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This excerpt taken from the C 8-K filed Oct 13, 2009. Transition Guidance for Conforming Changes to Issue No. 98-5
In June 2008, the FASB ratified the consensus reached by the EITF on Issue 08-4, “Transition Guidance for Conforming Changes to Issue No. 98-5” (Issue 08-4). Because of Issue 00-27, “Application of Issue No. 98-5 to Certain Convertible Instruments,” and SFAS 150, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, conforming changes were made to Issue 98-5, “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios.” Issue 08-4 provides transition guidance for those conforming changes and is effective for Citigroup’s financial statements issued after January 1, 2009. Issue 08-4 is not expected to have a material impact.
This excerpt taken from the C 10-Q filed Aug 7, 2009. Transition Guidance for Conforming Changes to Issue No. 98-5 EITF Issue 08-4, "Transition Guidance for Conforming Changes to Issue No. 98-5" (ASC 470-20-65-2). This excerpt taken from the C 10-Q filed May 11, 2009. Transition Guidance for Conforming Changes to Issue No. 98-5 EITF Issue 08-4, "Transition Guidance for Conforming Changes to Issue No. 98-5." These excerpts taken from the C 10-K filed Feb 27, 2009. Transition Guidance for Conforming Changes to Issue No. 98-5 In June 2008, the FASB ratified the consensus reached by the EITF on Issue 08-4, “Transition Guidance for Conforming Changes to Issue No. 98-5” (Issue 08-4). Because of Issue 00-27, “Application of Issue No. 98-5 to Certain Convertible Instruments,” and SFAS 150, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, conforming changes were made to Issue 98-5, “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios.” Issue 08-4 provides transition guidance for those conforming changes and is effective for Citigroup’s financial statements issued after January 1, 2009. Issue 08-4 is not expected to have a material impact. Transition Guidance for Conforming Changes to Issue No. 98-5 In June 2008, the FASB ratified the consensus reached by the EITF on Issue 08-4, “Transition Guidance for Conforming Changes to Issue No. 98-5” (Issue 08-4). Because of Issue 00-27, “Application of Issue No. 98-5 to Certain Convertible Instruments,” and SFAS 150, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, conforming changes were made to Issue 98-5, “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios.” Issue 08-4 provides transition guidance for those conforming changes and is effective for Citigroup’s financial statements issued after January 1, 2009. Issue 08-4 is not expected to have a material impact. | EXCERPTS ON THIS PAGE:
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