FASB Summary of May 8, 2002 Board Meeting Discussion

FASB: Summary of May 8, 2002 Board Meeting Discussion

Derivatives Implementation Group

Summary of May 8, 2002 Board Meeting Discussion on Statement 133 Implementation Issues

Financial instruments: derivatives implementation. At its May 8, 2002 meeting, the Board did not object to the staff making modifications to clarify the effective date of Statement 133 Implementation Issue No. A14, “Derivative Treatment of Stock Purchase Warrants Issued by a Company for Its Own Shares of Stock Where the Subsequent Sale or Transfer Is Restricted.” The changes make it clear that all contracts issued prior to August 1, 2001, are not subject to the revisions made to Implementation Issue A14 on April 9, 2002, and June 27, 2001.