Month: March 2018

Financial Reporting Briefs – First quarter 2018

Go to Source Author: This publication provides you with a snapshot of the major accounting and regulatory developments that have occurred during the first quarter of 2018. This edition brings you up to speed on the Boards’ priority joint projects and several other financial reporting...

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Technical Line – A closer look at the new guidance on recognizing and measuring financial instruments

Go to Source Author: We have updated our Technical Line, A closer look at the new guidance on recognizing and measuring financial instruments, to address amendments that the FASB recently issued to clarify the new guidance on transition, the application of the measurement alternative and the presentation of financial liabilities measured using the fair value option. We also have added interpretive guidance on the accounting and disclosure requirements for equity investments measured using the measurement alternative. The most significant update is a clarification that when an entity holds an equity investment that is measured using the measurement alternative and observes an orderly transaction for the same or a similar investment of the same issuer, it must adjust the carrying amount of its investment to fair value as determined in accordance with the principles of ASC 820. In addition, we have updated the questions and answers about how to apply the new guidance. The guidance is already effective for calendar-year public business...

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Technical Line – A closer look at the FASB’s new hedge accounting standard

Go to Source Author: The final guidance issued by the FASB on hedge accounting enables an entity to better portray the economics of its risk management activities in its financial statements and provides users with more transparency about the effect of its hedge accounting strategies. The amendments expand the strategies that qualify for hedge accounting, change how many hedging relationships are presented in the financial statements and simplify the application of hedge accounting in certain situations. In addition, the amendments add or modify certain disclosure...

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