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Financial Instruments: A Comprehensive Guide to Accounting & Reporting (2008)

Financial Instruments: A Comprehensive Guide to Accounting & Reporting (2008)

ISBN: 9780808091271
Publisher: CCH, Inc.
Edition: 2008
Publication Date: 2007-11-30
Number of pages: 960
Any used item that originally included an accessory such as an access code, one time use worksheet, cd or dvd, or other one time use accessories may not be guaranteed to be included or valid. By purchasing this item you acknowledge the above statement.

PLEASE NOTE THAT THE NEW 2009 EDITION WILL BE AVAILABLE ON NOVEMBER 1, 2008. PLEASE SEE ISBN 9780808092162. The passage of the Sarbanes-Oxley Act in 2002 has had sweeping implications for professionals involved in financial reporting, ranging from certification of financial reports by chief executives to a mandated study by the SEC of principles-based accounting standards, rather than rules-based (which is clearly the current state of affairs for financial instruments accounting). Financial Instruments: A Comprehensive Guide to Accounting and Reporting is written for practicing accountants and other professionals who need to understand the accounting for financial instruments. This unique book pulls together all of the existing accounting literature on financial instruments into one volume, organizes it logically, and describes the requirements as simply as possible. This comprehensive, topic-based approach will save practitioners time and effort in researching accounting issues. It includes guidance issued by the Financial Accounting Standards Board, the FASB's Emerging Issues Task Force and Derivatives Implementation Group. It also includes standards issued by the AICPA Accounting Standards Executive Committee, and the audit and accounting guides issued by various committees of the AICPA. This guide covers accounting requirements for public and private companies and touches on unique aspects of reporting financial instruments by nonprofit organizations. Over 400 pieces of authoritative literature are referenced in this book. The text includes visual aids whenever possible; observations, such as differences between instrument types; practice pointers; and examples to make the requirements as clear as possible to the reader. The book also includes: a cross-reference to the original pronouncements, citing the chapters in which they are discussed; a glossary of terms including references to the applicable chapters; and a detailed topical index. To facilitate research, the text includes references to pertinent paragraphs of the authoritative literature addressing key points. The 2008 Edition of Financial Instruments covers various new accounting standards in the area of financial instruments, including: · FASB Statement No. 157 (Fair Value Measurements) · FASB Statement No. 159 (The Fair Value Option for Financial Assets and Financial Liabilities) · Numerous FASB Staff Positions (FSPs), including FSP EITF 00-19-2 (Accounting for Registration Payment Arrangements), FSP FIN 39-1 (Amendment of FASB Interpretation No. 39), and FSP FIN 46(R)-7 (Application of FASB Interpretation No. 46(R) to Investment Companies) · Several EITF Issues, including EITF 06-6 (Debtor s Accounting for a Modification (or Exchange) of Convertible Debt Instruments), and EITF 06-7 (Issuer s Accounting for a Previously Bifurcated Conversion Option in a Convertible Debt Instrument When the Conversion Option No Longer Meets the Bifurcation Criteria in FASB Statement No. 133) · Various EITF D-Topics, including EITF Topic D-109 (Determining the Nature of a Host Contract Related to a Hybrid Financial Instrument Issued in the Form of a Share under FASB Statement No. 133) · Various revised DIG Issues, including DIG Issue B40 (Embedded Derivatives: Application of Paragraph 13(b) to Securitized Interests in Prepayable Financial Assets), and DIG Issue G26 (Cash Flow Hedges: Hedging Interest Cash Flows on Variable-Rate Assets and Liabilities That Are Not Based on a Benchmark Interest Rate)

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