September 06, 2019

FASB Proposed Guidance for LIBOR to SOFR Transition

Posted by Ruth Hardie & Farah Lotia
As a follow up to FASB’s June initiative to provide accounting relief to organizations that will need to modify their contracts as LIBOR is replaced by SOFR, FASB released a proposed Accounting Standards Update on Thursday.
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May 29, 2019

FASB Issues Narrow-Scope Improvements to Financial Instruments Standards

Posted by Ruth Hardie
In August 2017, the Financial Accounting Standards Board released ASU No. 2017-12, accounting guidance designed to better align a hedge program with an organization’s risk management objectives as reflected on financial statements. While the...
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December 28, 2018

Are New Lease Accounting Rules About To Disrupt Your Balance Sheet Hedge Program?

Posted by Helen Kane
  Under new lease accounting rules, what was once a long-term operating lease off the balance sheet is now a monetary liability, while the offsetting lease asset is non-monetary. 
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November 19, 2018

Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate – Does it impact my hedge program?

Posted by Ruth Hardie
With the LIBOR rate continuing to phase out, FASB announced last month that they have added the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) rate, as a benchmark interest rate to the list available for fair value hedging....
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November 16, 2018

Overnight Index Swap Rate Joins List of U.S. GAAP's Hedge Accounting Benchmarks

Posted by Ruth Hardie
As seen in WG&L Accounting & Compliance Alert, Thomson Reuters/Tax & Accounting.
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January 18, 2018

ASU 2017-12 Impact on Derivative Disclosures

Posted by Helen Kane
The FASB recently released updated hedge accounting guidance which will improve the financial reporting to better portray the economic results of an entity’s hedge program in its financial statements.
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August 15, 2017

New Hedge Accounting Guidance Prep Checkup

Posted by Glenn Suarez
In anticipation of the new hedging guidance, here are a few best practices for a solid foundation before implementing the updates.
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May 08, 2017

Targeted Improvements to Hedge Accounting: Latest Update

Posted by Ruth Hardie
The FASB continues to fine-tune its improvements to hedge accounting rules, which are due for final release later this quarter with early adoption available at the start of a company’s fiscal year. The general trend has been to relax the hedge...
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February 21, 2017

More Good News from the FASB

Posted by Ruth Hardie
In response to comment letters and FASB roundtables the FASB further relaxed effectiveness testing requirements in the proposed derivative accounting update, now permitting preparers to return to qualitative effectiveness testing after there have...
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