The accounting for financial instruments is a priority convergence project for the FASB and IASB. The boards are aiming to finalize most of their respective guidance in 2011. The FASB received a significant amount of input from financial statement users, preparers, and accounting firms on its May 2010 proposal. The tentative decisions the FASB has made in its redeliberations point to significant changes from the proposal. This Dataline provides an update on the FASB's redeliberations, with a focus on the significant changes the FASB has tentatively decided to make thus far to its May 2010 proposal.