Summaries / Status
Status of Statement No. 53
Accounting and Financial Reporting for Derivative Instruments
Status
Issued: June 2008
Effective Date:
- For periods beginning after June 15, 2009
Affects:
- Supersedes GASBTB 2003-1
- Amends GASBS 7, ¶11
- Amends GASBS 23, fn4
- Amends GASBS 25, ¶24
- Amends GASBS 31, ¶2, ¶4, ¶7, and ¶16
- Amends GASBS 40, ¶7, ¶11, ¶14, and ¶16
- Amends GASBS 43, ¶22
Affected by:
- Paragraph 12 will be amended by GASBS 99, ¶8
- Paragraph 13 amended by GASBS 59, ¶7
- Paragraph 16 superseded by GASBS 59, ¶8
- Paragraph 17 amended by GASBS 59, ¶9
- Paragraph 19, fn6, and fn7 amended by GASBS 63, ¶8
- Footnote 7 amended by GASBS 99, ¶32
- Footnote 8 amended by GASBS 62, ¶476–¶500
- Paragraph 20 amended by GASBS 63, ¶8 and GASBS 99, ¶32; will be amended by GASBS 99, ¶8
- Paragraph 21 and fn9 superseded by GASBS 72, ¶5–¶63
- Paragraph 22 amended by GASBS 64, ¶4; GASBS 86, ¶4; and GASBS 93, ¶4 and ¶6
- Paragraph 23 amended by GASBS 63, ¶8 and GASBS 99, ¶32; will be amended by GASBS 99, ¶9
- Paragraph 24 amended by GASBS 63, ¶8 and GASBS 86, ¶4
- Paragraph 25 amended by GASBS 63, ¶8 and GASBS 99, ¶32; will be amended by GASBS 99, ¶10
- Paragraph 35 amended by GASBS 93, ¶11 and GASBS 99, ¶26
- Paragraphs 37, 38, and 46 amended by GASBS 93
- Paragraph 64 amended by GASBS 59, ¶10; GASBS 63, ¶8; GASBS 92, ¶13; and GASBS 93, ¶11
- Paragraph 65 amended by GASBS 92, ¶13
- Paragraph 69 amended by GASBS 72, ¶81; will be amended by GASBS 99, ¶8
- Footnote 11 superseded by GASBS 72, ¶81
- Footnote 12 amended by GASBS 92, ¶13
- Paragraph 74 amended by GASBS 87, ¶37–¶39
- Paragraph 76 amended by GASBS 93, ¶11
- Paragraph 78 amended by GASBS 92, ¶13
- Paragraph 82 amended by GASBS 63, ¶8; GASBS 64, ¶5; GASBS 72, ¶64 and ¶86; and GASBS 93, ¶11 and ¶12
Primary Codification Section Reference: D40
Other Interpretive Literature:
- GASBIG 2015-1
- GASBIG 2016-1
- GASBIG 2019-1
Abbreviations for Accounting Pronouncements
GASBS - GASB Statements
GASBCS - GASB Concepts GASBI - GASB Interpretations GASBTB - GASB Technical Bulletins GASBIG - GASB Implementation Guides |
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations AICPA SOP - AICPA Statements of Position AICPA ASLGU - AICPA Audit Guide (1974) BFC - Basis For Conclusions |