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ACCOUNTING FOR DERIVATIVES UNDER SFAS No. 133.
Mid-Atlantic Journal of Business, March, 2000 by BLANKLEY, ALAN; SCHROEDER, RICHARD
The Financial Accounting Standards Board (FASB) recently released SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities. This pronouncement is the result of prolonged deliberations that began in 1992 due to the increased use and complexity of derivatives, resulting in growing concern about the accounting and disclosure requirements for derivatives and hedging activities. SFAS No. 133 provides comprehensive guidance for all derivatives, even those instruments yet to be developed. The statement requires companies engaging in hedging transactions to recognize derivative financial instruments as assets and liabilities, and to measure them at fair value for all fiscal quarters of fiscal years beginning after June 15, 2000 (as amended by SFAS No. 137)...
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