Response to the FASB's Preliminary Views on Financial Instruments with Characteristics of Equity

7 Pages Posted: 16 Jan 2009 Last revised: 12 Jun 2013

See all articles by Thomas L. Stober

Thomas L. Stober

University of Notre Dame - Department of Accountancy

Douglas R. Carmichael

City University of New York - Stan Ross Department of Accountancy

Theodore E. Christensen

University of Georgia - J.M. Tull School of Accounting; University of Georgia

Robert H. Colson

Grant Thornton LLP

Karim Jamal

University of Alberta - Department of Accounting, Operations & Information Systems

Stephen R. Moehrle

University of Missouri at Saint Louis - Accounting Area

Shivaram Rajgopal

Columbia Business School

Shyam Sunder

Yale University - School of Management; Yale University - Cowles Foundation

Ross L. Watts

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Date Written: May 30, 2008

Abstract

The Financial Accounting Standards Committee of the American Accounting Association (the Committee) is charged with responding to requests for comments from standard-setters on issues related to financial reporting. The Financial Accounting Standards Board (FASB) recently requested comments on its Preliminary Views on Financial Instruments with Characteristics of Equity (PV). The committee believes that the PV introduces concepts and definitions involving financial statement elements that more properly would be considered at the conceptual framework level. Therefore, the committee respectfully requests that FASB take no further action regarding the proposed standard exposed in the Preliminary Views on Financial Instruments with Characteristics of Equity until the conceptual and definitional issues are resolved at the conceptual framework level.

Keywords: Financial Reporting, FASB, Financial Instruments, Equity

JEL Classification: M41, M44

Suggested Citation

Stober, Thomas L. and Carmichael, Douglas R. and Christensen, Theodore E. and Colson, Robert H. and Jamal, Karim and Moehrle, Stephen R. and Rajgopal, Shivaram and Sunder, Shyam and Watts, Ross L., Response to the FASB's Preliminary Views on Financial Instruments with Characteristics of Equity (May 30, 2008). University of Alberta School of Business Research Paper No. 2013-1011. Available at SSRN: https://ssrn.com/abstract=1328591 or http://dx.doi.org/10.2139/ssrn.1328591

Thomas L. Stober (Contact Author)

University of Notre Dame - Department of Accountancy ( email )

Notre Dame, IN 46556-0399
United States
219-631-7614 (Phone)

Douglas R. Carmichael

City University of New York - Stan Ross Department of Accountancy ( email )

One Bernard Baruch Way, Box B12-225
New York, NY 10010
United States

Theodore E. Christensen

University of Georgia - J.M. Tull School of Accounting ( email )

Athens, GA 30602
United States

University of Georgia ( email )

Athens, GA
United States

Robert H. Colson

Grant Thornton LLP ( email )

Chicago, IL
United States

Karim Jamal

University of Alberta - Department of Accounting, Operations & Information Systems ( email )

Edmonton, Alberta T6G 2R6
Canada
780-492-5829 (Phone)
780-492-3325 (Fax)

Stephen R. Moehrle

University of Missouri at Saint Louis - Accounting Area ( email )

8001 Natural Bridge Road
St. Louis, MO 63121
United States
314-516-6142 (Phone)
314-516-6420 (Fax)

Shivaram Rajgopal

Columbia Business School ( email )

3022 Broadway
New York, NY 10027
United States

Shyam Sunder

Yale University - School of Management ( email )

165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-432-6160 (Phone)

HOME PAGE: http://www.som.yale.edu/faculty/sunder/

Yale University - Cowles Foundation

Box 208281
New Haven, CT 06520-8281
United States

Ross L. Watts

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E52-325
Cambridge, MA 02142
United States

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