Financial Accounting Standards Board issues standard that amends and clarifies Accounting Guidance on Derivatives
April 30, 2003
On April 30, 2003, the Financial Accounting Standards Board (FASB) issued Statement No. 149, Amendment of Statement 133 on Derivatives Instruments and Hedging Activities.
The new standard requires that contracts with comparable characteristics be accounted for in a similar fashion. This guidance is intended to improve the consistency of reporting for contracts that are derivatives in their entirety or that contain embedded derivatives that warrant separate accounting. Not-for-profit organizations continue to recognize the change in fair value of derivatives as a change in net assets in the period of change.
The statement is effective for contracts entered into or modified after June 30, 2003, and for hedging relationships designated after June 30, 2003. The guidance should be applied prospectively.
- Lawmakers Introduce Bills to Simplify Student Aid
- CFPB Proposes Draft Template for Student Banking Options
- Data on Campus Law Enforcement Released
- 2015 Endowment and Debt Management Forum
February 4-6, 2015
- 2015 Unrelated Business Income Tax
February 25-27, 2015
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis