Financial Instruments: A Comprehensive Guide to Accounting & Reporting (2018)

Author(s): Rosemarie Sangiuolo, Leslie F. Seidman, Scott A. Taub

Published: Nov 09, 2017
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ISBN: 9780808046998
Product Number: 10044710-7777
Volumes: 2
Update Frequency: Annually
1000 Pages

Financial Instruments: A Comprehensive Guide to Accounting and Reporting (2018) 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.

This comprehensive reference 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.

Each chapter covers the relevant accounting questions for each type of instrument, including:

  • When and how to initially recognize the instrument in the balance sheet
  • How to measure the instrument in subsequent periods
  • How to recognize income or expense
  • When and how impairment must be recognized
  • When the instrument should be removed from the balance sheet
  • What disclosures should be provided in the footnotes.

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 2017 Edition covers various new accounting standards in the area of financial instruments, including:

  1. FASB Accounting Standards Update 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity
  2. FASB Accounting Standards Update No. 2014-14-Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)
  3. FASB Accounting Standards Update No. 2014-16-Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force)
  4. FASB Accounting Standards Update No. 2015-02-Consolidation (Topic 810): Amendments to the Consolidation Analysis
  5. FASB Accounting Standards Update No. 2015-03-Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs
  6. FASB Accounting Standards Update 2015-07-Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force)
  7. New SEC staff guidance.

The Financial Instruments: A Comprehensive Guide to Accounting & Reporting (2018) is now available in an eBook format which you can download to your computer instantly.

  • Table of Contents
  • Financial Instruments: A Comprehensive Guide to Accounting & Reporting (2018)

    Topics and Content

    Part I: Financial Assets

    • 1. Cash and Cash Equivalents
    • 2. Investments in Debt and Equity Securities
    • 3. Loans and the Allowance for Credit Losses
    • 4. Servicing of Financial Assets
    • 5. Transfers of Financial Assets
    • 6. Securitizations
    • 7. Interest on Loans and Other Debt Investments

    Part II: Financial Liabilities

    • 8. Debt Financing
    • 9. Securities Lending Arrangements and Other Pledges of Collateral
    • 10. Convertible Debt and Similar Instruments
    • 11. Extinguishments of Debt

    Part III: Derivatives and Hedging Activities

    • 12. Derivatives Accounting
    • 13. Embedded Derivatives
    • 14. Hedge Accounting
    • 15. Disclosures about Derivatives

    Part IV: Equity Instruments

    • 16. Issuer's Accounting for Equity Instruments and Related Contracts

    Part V: Pervasive Issues

    • 17. Offsetting Assets and Liabilities in the Balance Sheet
    • 18. Fair Value Measurements
    • 19. The Fair Value Option for Financial Instruments
    • 20. Financial Instrument Disclosures
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