FASB suggests more in-depth derivatives reporting

The US Financial Accounting Standards Board (FASB) has issued a proposal for more rigorous reporting of derivatives in financial statements.

12 December - The US Financial Accounting Standards Board (FASB) has issued a proposal for more rigorous reporting of derivatives in financial statements.The proposed changes, affecting FASB Statement 133, would mean the purposes behind companies’ uses of derivatives and related hedged items would have to be made explicit, along with contingent and counterparty risks. FASB said the changes were a reaction to concerns from the accounting community that present rules do not provide enough

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