Professor Elam

Monday Sept 29

You will recall thatyour syllabus contains a link to the Chicago Mercantile Exchange book on understanding futures and options. You will recall I suggested you print it out and add to your accounting library.

now comes a new study by the FASB on how those transactions are reported.

I guess I have remined you enough tthat indeed on student observed that for the umpteenth time I reminded all to read the WSJ and the links to financial sites. This is the only way you will learn enought to understand such transactions.