Financial Services Industry
Industry: Email Alert RSS FeedFASB's project on financial instruments. (Financial Accounting Standards Board)
Ohio CPA Journal, The, April, 1995 by Li, June F.
The FASB recognized in the 1980s that resolving the complex issues regarding financial instruments would be time consuming but also realized that improving disclosures of financial instruments was necessary in the meantime. As a result, three Statements of Financial Accounting Standards on disclosures of financial instruments were issued. This article addresses the financial instruments disclosure issues in these three statements, with an emphasis on SFAS No. 119. (Reprinted by permission of the publisher.)
There are several reasons for companies to create new financial instruments. Deregulation, foreign exchange and interest rate volatility, and tax law changes are the major reasons. Deregulation and competition have resulted in the expansion of financial services and...
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