FASB issued Staff Position (FSP) FIN 45-3,
Application of FASB Interpretation No. 45 to Minimum Revenue
Guarantees Granted to a Business or Its Owners, which amends
Interpretation no. 45, Guarantor’s Accounting and Disclosure
Requirements for Guarantees, Including Indirect Guarantees of
Indebtedness of Others (
www.fasb.org/fasb_staff_positions/fsp_fin45-3.pdf ). The FSP
clarifies that guarantee contracts, declaring a business’s revenue for
a given period will be at least a specified amount, are within the
scope of Interpretation no. 45.
Accounting
