FASB Summary of July 11, 2001 Board Meeting Discussion

FASB: Summary of July 11, 2001 Board Meeting Discussion

Derivatives Implementation Group

Summary of July 11, 2001Board Meeting Discussion on Statement 133 Implementation Issues

Financial instruments: derivatives implementation. At its July 11, 2001 meeting, the Board decided not to object to the staff's issuing guidance in a question-and-answer format (Q&A) on Statement 133 Implementation Issue No. B31, "Accounting for Purchases of Life Insurance," an issue related to FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities.