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Industry: Email Alert RSS FeedComprehensive accounting for derivatives and hedging activities.
Ohio CPA Journal, The, July, 1998 by Rasch, Ronald H.; Wilson, Arlette C.
The Financial Accounting Standards Board (FASB) added the financial instruments project to its agenda in 1986 to address financial reporting issues resulting from the development of innovative financial instruments. Deliberations on issues related to derivatives and hedging activities began in January 1992. In June 1996, the FASB issued the Exposure Draft "Accounting for Derivatives and Similar Financial Instruments and for Hedging Activities." After more than a year of deliberations and several changes, the FASB is ready to issue a final statement. This article illustrates and evaluates the basic requirements for this new, comprehensive accounting for derivatives and hedging activities. (Reprinted by permission of the publisher.)
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