Project Pages

Derivative Instruments Implementation Guide

Primary Objective: The objective of this project is to develop an implementation guide that assists practitioners in application of the forthcoming derivative instruments standard. Guidance will be limited to clarifying, explaining, or elaborating on the standards contained in the derivative instruments pronouncement.

Status: The Board reviewed a project prospectus at the April 2008 Board meeting and the Chairman added the Derivative Instruments Implementation Guide project to the Current Technical Agenda as a practice issue.

Derivative Instruments Implementation Guide—Project Plan

Project Description: This project will develop an implementation guide that assists practitioners in application of the forthcoming derivative instruments standard. Guidance will be limited to clarifying, explaining, or elaborating on the standards contained in the derivative instruments pronouncement.

Accounting and Financial Reporting Issues: The major issues would be the scope of the standard, definitions, recognition and measurement, methods of evaluating hedges, terminations, synthetic guaranteed investment contracts, and note disclosures.

Current Developments: The project staff has been assembling the issues that should be addressed in the guide. Upon completion of the final Statement on derivative instruments (scheduled for June 2008), the priority of the staff will become development of the guide. An advisory committee will assist with the guide's development.

Work Plan:

Board meetings

   Topics to be considered
May-November 2008:   Compilation of questions, development of answers, and review by advisory committee
December 2008-February 2009 (T/C):   Board consideration of draft guide along with advisory committee comments
February 2009 (T/C):   Clearance by the Board and issuance of the guide

Derivative Instruments Implementation Guide—Relevant Links