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Topic: Financial instruments

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Derivative securities

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	FASB: Financial Instruments
		At joint meetings held in April 2005 and October 2005, the FASB and the IASB agreed to long-term objectives to improve, simplify, and converge financial reporting requirements for financial instruments.
		Through its project on Financial Instruments: Liabilities and Equity, the Board expects to resolve several issues relating to the accounting for financial instruments with characteristics of liabilities, equity, or both.
		The document, which is planned for issuance in late 2007 or early 2008, will include discussion of the problems with current reporting requirements for financial instruments, the potential advantages of a comprehensive fair value measurement requirement, and other steps the Board might take to improve financial reporting of financial instruments.
	www.fasb.org /project/financial_instruments.shtml (487 words)

	Financial Betting
		Financial spread betting lets you back your trading judgement without having to buy the underlying instrument or product you want to trade.
		A bet is made against a 'spread' (or index), on whether the outcome will be above or below the spread.
		If the FTSE 100 spread bet is quoted at 4,200-4,204 the spread is 4 points.
	financial-betting.webguide.org.uk (124 words)

	Accounting Standards Board - Publications - Inside Track
		Instruments: Disclosure and Presentation and Recognition and Measurement' and two supplements which, when taken together, mean that for accounting periods beginning on or after 1 January 2005:
		The ASB has issued proposals in FRED 33 'Financial Instruments: Disclosures' that these amended requirements should be implemented in the UK.
		The IASB is also looking to develop longer term proposals for financial instruments and is setting up an international financial instruments working group to provide specialist advice.
	www.frc.org.uk /asb/publications/it26_p196.html (711 words)

	International Accounting Standards Board (IASB) Agenda: IAS 39 Reconsideration After 2004
		That is that financial instruments (broadly defined) is the appropriate basis for the scope of the document, subject to whatever exceptions the boards think it desirable to make or additional items the boards wish to include.
		A financial instrument classified by an entity in the equity section of its balance sheet (or statement of financial position) is neither a financial asset nor a financial liability to that entity.
		The due process document could describe a financial asset as a financial instrument that is an asset (and similarly that a financial liability is a financial instrument that is a liability).
	www.iasplus.com /agenda/ias39rev3.htm (7028 words)

	Accounting and Reporting for Financial Instruments: International Developments
		Financial assets and financial liabilities may be reported net in the balance sheet when a current legal right of set-off is present and the company intends either to settle the instruments on a net basis or to realize the asset and settle the liability simultaneously.
		Financial assets classified as trading assets, including all derivative instruments that are not classified as hedges, should be measured at fair value, with changes to fair value reported on the income statement.
		For debt instruments, IAS 39 states that objective evidence of impairment might include indicators of financial difficulty or delinquency on the part of the debtor, concessions made by a lender, or a high probability of bankruptcy or financial reorganization of the debtor.
	www.nysscpa.org /cpajournal/2005/205/essentials/p30.htm (2260 words)

	Key financial instruments -
		Other than a small number of highly exotic financial instruments, most of which I would argue to be of limited end-user use other than perhaps as examples of Accounting innovation or Ignorance innovation, every financial instrument already created or likely to be created can be broken down into combinations of these key instruments.
		The first key financial instrument is the Spot contract which is a contract to buy or sell some commodity for a cash payment in a particular currency or to exchange one currency for another.
		So recall that the key financial instruments referred to at the beginning of this article were: the spot contract, the forward contract, the option contract and the deposit contract.
	www.dc3.co.uk /keyinstruments.htm (10684 words)

	Hybrid Financial Instruments
		Because financial products are experience goods, it may be that customers will tend to purchase new instruments and services chiefly from firms that have a reputation for initiating techniques of sound legality and predictable risk.
		Among the most versatile of instruments for the design and issuance of hybrid claims is the medium term note, for the distribution technique of MTNs lends itself to being tailored to one or a few specific investors.
		Dissecting new financial instruments offers great challenges, and encourages a way of thinking that may help equip us to adapt to the significant changes in the world economy that are inevitable in the next decade.
	giddy.org /dbs/structured/gfmch17.htm (12391 words)

	Financial Instruments
		Derivative financial instruments are increasingly being used by governments to manage other financial exposures such as interest rate exposures.
		Given the complexity of many financial instrument derivative contracts, a primary objective of the project will be to craft standards that will make reporting by governments on the use of financial instrument derivatives as transparent and understandable as possible.
		While PSAB works to develop public sector standards on financial instruments, governments and government organizations preparing their summary financial statements in accordance with the recommendations contained in the PSA Handbook are encouraged to continue to develop and refine disclosures of information about financial instruments.
	www.icca.ca /index.cfm/ci_id/15513/la_id/1.htm (573 words)

	Financial Instruments
		The AcSB used the improved version of International Accounting Standard 39, Financial Instruments: Recognition and Measurement (IAS 39), which itself was developed from FAS 115 and FAS 133, to facilitate the development of the Canadian standards.
		The AcSB has established a Financial Instruments Working Group (FIWG), charged with the development of materials to assist entities in understanding the new standards and dealing with issues that may arise on their implementation.
		December 2000 Financial Instruments Joint Working Group proposals, it became apparent that significant further work is needed to develop this model further and test it rigorously.
	www.acsbcanada.org /index.cfm/ci_id/1580/la_id/1.htm (895 words)

	Note 27: Derivatives and Other Financial Instruments
		For derivatives that are not exchange-traded instruments, we use internal valuation models that incorporate market-based information.
		Although these instruments are considered to be derivatives, their economic risks are similar to, and managed on the same basis as, risks of other equity instruments we hold.
		2004 amounts included financial instruments associated with VUE that were settled in 2005.
	www.ge.com /ar2005/note_27.htm (2054 words)

	FRBSF: Economic Letter - Financial Instruments for Mitigating Credit Risk (11/23/2001)
		These financial instruments are used to manage a lender's credit risk, which is the risk that a borrower will default on a debt obligation.
		Although these instruments are typically discussed in terms of a single loan from a single borrower, they can be and often are applied to pools of loans from different borrowers.
		Since credit-mitigating financial instruments are not traded on a securities exchange, the size of the market is difficult to measure accurately.
	www.frbsf.org /publications/economics/letter/2001/el2001-34.html (1780 words)

	UIC Financial Instruments \| Region 5 Water \| US EPA
		The requirements of the financial instruments are designed to assure continued availability of plugging resources under a variety of circumstances that can occur during well life.
		Financial institutions with which an owner or operator normally does business should be able to assist him in establishing a trust fund for plugging, either by serving as trustee or be referring him to trust institutions.
		This instrument is used as a payment mechanism in case of forfeiture of the primary financial instrument, either the surety bond or letter of credit.
	www.epa.gov /r5water/uic/finmech.htm (1146 words)

	19 Mar 03_Financial Instruments and the Volatility of Earnings
		According to the survey, fair value information permits comparisons of financial instruments having substantially the same economic characteristics, regardless of their purpose and when and by whom they were issued or acquired.
		For financial instruments carried at fair value (and particularly financial derivatives), the current cost, realisable value, and present value often converge to what is known as the fair value.
		The increased volatility in the income statement under AC 133 is going to assume that users of financial statements at a minimum understand the nature and risks of financial instruments in the enterprise i.e.
	www.ey.com /GLOBAL/content.nsf/South_Africa/19_Mar_03_Financial_Instruments_and_the_Volatility_of_Earnings (1047 words)

	New accounting standards aim for clarity in evaluating financial instruments
		When an instrument is originally in the form of a liability but can be changed into the form of equity, that instrument is said to contain both the liability and equity element.
		Certain financial derivatives are a combination of a financial instrument and a non-financial instrument or are non-derivative host contracts in nature.
		In this instance, the financial instrument and non-financial instrument components under the embedded derivative need to be separated when calculating the value of the financial instrument.
	www.chinadaily.com.cn /english/doc/2004-11/22/content_393531.htm (995 words)

	E48 Financial Instruments
		E48 modifies the criteria for discontinuing recognition of a financial asset or a financial liability to refer to the transfer of substantially all of the risks and rewards associated with the asset or liability.
		While accounting for financial instruments is a difficult problem and regulators and others have seen the dangers emanating from growth in their use, the FAPC believes that the impact of new financial instruments on the usefulness of financial statements till has not been sufficiently recognized.
		When financial instruments are revalued, it is appropriate for the balance sheet and the income statement to reflect the varying natures of the resulting “gains” or “losses”.
	www.cfainstitute.org /centre/issues/comment/2002/02jwgdraft-b.html (3588 words)

	Accounting for financial instruments and derivatives
		A financial instrument is one which is settled by delivering a financial instrument - this seems like a circular definition, but given the fact that cash is also treated as a financial instrument, there should be no difficulty understanding it.
		The consideration by the recipient of the financial instrument is the release of the obligation of the counterparty.
		This is the reason why the accounting standard on financial instruments is not merely relevant to financial entities but equally to non-financial entities.
	www.india-accounting.com /fininstrubasics.htm (564 words)

	New Accounting Standards for Financial Instruments Beyond Numbers - Find Articles
		Having explored several approaches to accounting for financial instruments, the AcSB has produced standards that will enhance the understandability of financial statements, are practical, and are harmonized with those of international partners.
		This section will probably affect all entities to some degree, as it prescribes when a financial instrument is to be recognized on the balance sheet and at what amount-sometimes using fair value; other times using cost-based measures.
		Financial instruments include accounts receivable and payable: loans; investments in debt and equity securities (including term deposits, guaranteed investment certificates, investments in common shares, etc.); and derivative contracts such as forwards, swaps, and options.
	www.findarticles.com /p/articles/mi_qa3984/is_200502/ai_n11826020 (729 words)

	Key Financial Instruments: Understanding and innovating in the world of derivatives by Warren Edwardes - Financial ...
		Key Financial Instruments launched in Ukrainian as as Klyuchovi Finansovi Instrumenty produced by Yurincom supported by the British Council.
		This part covers the key financial instruments of forwards, futures, swaps and options as applied to the management of risk in interest rates, currencies, equity, commodities and inflation and looks at the construction of hybrid products using building blocks.
		The "Key financial instruments" described here include innovative cash instruments that may or may not have required derivatives in their construction.
	dc3.co.uk /key.htm (3853 words)

	Financial Instruments
		The Company places its temporary cash investments in highly rated financial instruments and financial institutions and by policy, limits the amount of credit exposure to any one financial institution.
		The Company would be exposed to credit risk if a counterparty to a call option contract or the forward component of a foreign exchange swap contract were to fail to meet its contractual obligation, in which situation the Company would be required to replace the contract at market rate.
		The Company believes that the risk of financial loss due to the inability of counterparties to meet their obligation is remote and that any such loss would not be material to the results of operations of the Company.
	www.bitmedia.com /ar96/fin/fin_10.html (1158 words)

	- investment taxation: practical tax strategies for financial instruments by arlene m. hibschweiler, isbn 0071396969 - ...
		Whether you are a financial professional or an individual investor, "Investment Taxation will help you make sense of today's quagmire of investing-related tax laws and regulations.
		Written in language that can be understood by anyone looking for investment tax assistance, yet informative enough to provide in-depth support and answers to the most knowledgeable CPA, it will provide you with succinct, at-your-fingertips answers to literally hundreds of important investment tax questions.
		Our wish is for our readers to be more informed and confident of their investment decisions with full knowledge of the associated tax implications.
	www.discounttelevisionsau.com /Investment-Taxation:-Practical-Tax-Strategies-for-Financial-Instruments-by-Arlene-M.-Hibschweiler,-ISBN-0071396969/Page/2346482 (1373 words)

	Accounting Education - News - FINANCIAL INSTRUMENTS IMPLEMENATION GUIDE â“ INVITATION TO COMMENT
		The Financial Instruments Working Group (FIWG) is a group of volunteers requested by the Accounting Standards Board (AcSB) to develop implementation guidance for applying the CICA Handbook ?
		Terms used in the standards are highlighted in the guidance documents and presented with their definitions in alphabetical order in the glossary for your convenience.
		The Financial Instruments Working Group has released the fourth in a series of draft Implementation Guidance documents designed to assist entities with the implementation and application of the financial instruments standards.
	accountingeducation.com /index.cfm?page=newsdetails&id=145107 (318 words)

	IAS39 causing 'illogical' outcomes - Accountancy Age (Site not responding. Last check: )
		The financial instruments standard, which currently appears in two forms because of concerns at the European Commission over its impact, has caused 'undue complications or accounting outcomes that seem illogical, confusing or even misleading to users of the accounts' of some of its members.
		It has previously expressed its support for the standard and the concept of fair value, but is now discovering that 'normal commercial treasury transactions and practices give rise to accounting results that do not seem to follow the true economics of what is being undertaken'.
		Financial Controller Highly commercial Financial Controller required for our client who is a leading regional professional services organisation within the North of England.
	www.accountancyage.com /accountancyage/news/2141828/ias39-causing-illogical (447 words)

	BG, MTN, SBLC, BDI, BPO, BOND BUYERS AND SELLERS - NAMC Worldwide
		NAMC Worldwide arranges the buying and selling of Financial Instruments such as Mid Term Notes, Bank Debenture Instruments, Bank Purchase Orders, Stand By Letters of Credit, Bank Guarantees, and Bonds.
		We work closely with direct buyers and sellers of these Financial Instruments, arranging transactions worldwide.
		Direct Buyers of these various Financial Instruments can contact NAMC Worldwide to represent them and present various opportunities that are available to them.
	www.namcworldwide.com /financialinstruments (194 words)

	Supervisory guidance on the use of the fair value option for financial instruments by banks
		This paper is being issued by the Basel Committee on Banking Supervision to provide supervisors with guidance on the prudential supervision of banks' implementation of the fair value option.
		Supervisors expect that banks will not apply the fair value option to instruments for which they are unable to reliably estimate fair values.
		While this supervisory guidance refers specifically to the fair value option in IAS 39, the Committee believes that the principles set forth in this document should be generally applicable to similar fair value option approaches that exist or are being considered in other accounting regimes.
	www.bis.org /publ/bcbs127.htm (394 words)

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