FASB Webcast Series

Financial Instruments Proposal: An Overview

The Financial Accounting Standards Board (FASB) is pleased to announce an upcoming webcast to discuss the Proposed Accounting Standards Update: Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities. The live webcast, scheduled for Wednesday, June 30, 2010, is offered free of charge. Viewers will have the opportunity to email questions to panelists during the event.

The FASB will archive the live webcast on the FASB website for access by the public. To register for the live or archived webcast, follow the audience URL at: http://event.on24.com/r.htm?e=217085&s=1&k=D099CC4CFDD333F0978A797582066D20.

CPE credit will not be offered for this webcast.


Title of Webcast:

Financial Instruments Proposal: An Overview

Date & Time: Wednesday, June 30, 2010, 2:00 PM to 3:00 PM (EDT)

Event Description/Abstract:

Panelists Marc Siegel, Russ Golden, and Kevin Stoklosa will provide an overview of the Proposed Accounting Standards Update: Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities. Among other changes, this proposal would seek to bring more transparency into financial statements by incorporating both amortized cost and fair value information about financial instruments held for collection or payment of cash flows.

Other potential improvements addressed by this proposal include:

  • A single credit impairment model for both loans and debt securities.
     
  • The criteria for hedge accounting would be simplified in order to improve the consistency in the reporting of the economic impacts of hedging activities.

All entities that have financial instruments will be affected. However, the degree of impact will depend on the extent financial instruments play in an entity’s operations and financial position.

Marc Siegel is a member of the FASB; Russ Golden is the FASB Technical Director; and Kevin Stoklosa is a FASB Assistant Director.
 

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