Status of Statement No. 91

Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases—an amendment of FASB Statements No. 13, 60, and 65 and a rescission of FASB Statement No. 17

Status

Issued: December 1986

Effective Date:

For lending and leasing transactions entered into and commitments granted in fiscal years beginning after December 15, 1987 and interim periods within those fiscal years

Affects:

Replaces FAS 13, paragraphs 5(m) and 23(a)(i)

Amends FAS 13, paragraphs 18(a) and 18(b)

Deletes FAS 13, paragraph 23(a)(iii)

Supersedes FAS 17

Replaces FAS 60, paragraph 49

Amends FAS 65, paragraphs 6 and 23

Deletes FAS 65, paragraphs 14 and 26 and footnote 7

Replaces FAS 65, paragraphs 21 and 25 and footnote 2

Affected by:

Paragraph 3 amended by FAS 115, paragraph 130(a); FAS 124, paragraph 109; and FAS 149, paragraph 36

Paragraph 14 amended by FAS 114, paragraph 24

Paragraphs 25(a) through 25(c) deleted by FAS 98, paragraph 21

Paragraph 27(a) amended by FAS 115, paragraph 130(b)

Other Interpretive Release:

FASB Special Report, A Guide to Implementation of Statement 91 on Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases: Questions and Answers (in Current Text Sections L20 and Mo4)

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncements:

SOP 93-1

SOP 01-6

PB 4

PB 5

PB 6

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:

Partially resolves EITF Issue No. 85-38

Interpreted by:

Paragraphs 5 and 7 interpreted by EITF Issue No. 93-1

Paragraph 6 interpreted by EITF Issues No. 92-5 and 93-1

Paragraph 8 interpreted by EITF Issues No. 85-20 and 87-30

Paragraph 10 interpreted by EITF Issue No. 92-5

Paragraph 16 interpreted by EITF Issue No. 88-20

Paragraph 18 interpreted by EITF Issues No. 88-20, 92-5, and 93-1 and Topic No. D-10

Paragraphs 19 and 20 interpreted by EITF Issues No. 88-20, 92-5, and 93-1

Paragraph 23 interpreted by EITF Topic No. D-8

Related Issues:

EITF Issues No. 84-4, 86-21, 95-6, 96-12, 97-3, and 01-7 and Topic No. D-4

Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides