Accounting for financial instruments has been a tough issue for a long time, and the recent financial crisis has heightened concerns.  My guess is that a number of academics are working on research projects related to accounting for financial instruments.  In many cases, I bet the authors would like a convenient document they could cite regarding the views of investment professionals on the subject.  I just came across a PWC document reporting results from a survey of investment professionals.  If you are doing research in the area or for that matter teaching topics related to accounting for financial instruments, it might be worth a read.

From a quick skim of the document, the survey results seem roughly compatible with many of the decisions in the FASB’s ED.  Page 12 of the PWC document has a pretty cool table considering the accounting for different instruments.

As with any survey, the sample matters – the survey appears to oversample investment professionals that follow banking and insurance companies, which makes some sense given that financial instrument accounting has a BIG effect in those industries.  But if your research is based on a sample that excludes those industries, then the survey might not be as on point.

For those bloggers who are working on financial instrument accounting or bank accounting topics, do these results reaffirm what you thought or surprise you?

BTW – the FASB has gotten over 1,600 comments on the ED.  Three guesses where most of them come from…