March 10, 2016

Notes on ASU 2016-03 & New FASB Guidance

Posted by Helen Kane
We have two updates to share from FASB this week – notes on Accounting Standards Update (ASU) 2016-03 and the highly anticipated new hedge accounting guidelines.
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February 26, 2016

Notes on FASB’s Recent ASU 2016-01

Posted by Ruth Hardie
FASB has recently issued Accounting Standards Update 2016-01, “Financial Instruments – Overall (Subtopic 825-10).” The fortunate upshot for most Hedge Trackers clients: There are no 815 changes to worry about.
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December 23, 2015

Novations Will No Longer Trigger Automatic Dedesignation

Posted by Ruth Hardie
This month, FASB ratified the Nov. 12 consensus on EITF 15-D, “Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” The consensus, essentially, means that a change in the counterparty of a derivative instrument...
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October 12, 2015

FASB: Momentum for Hedge Accounting Change Continues

Posted by Ruth Hardie
Momentum for changes to hedge accounting continued in last week's FASB meeting. The board discussed aspects of net investment hedging, cash flow hedging and fair value hedging. Tentative decisions were reached as follows: Time value may continue to...
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August 13, 2015

Materiality in Derivative Disclosures?

Posted by Ruth Hardie
Watch the FASB video here to learn about the project to improve the effectiveness of disclosures in notes to the financial statements. Fair Value Measurement is one of four areas under review.
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August 13, 2015

Application of NPNS: Scope Exception to Certain Electricity Contracts within Nodal Energy Market

Posted by Ruth Hardie
The FASB issued an Accounting Standards Update, effective August 10, 2015, that specifically deals with the ability of entities to elect the normal purchase normal sales (NPNS) scope exception when the contract for the purchase or sale of...
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July 14, 2015

FASB Board Moves EITFs 15-D and 15-E to a 60-Day Public Comment Period

Posted by Ruth Hardie
On July 9, the FASB Board elected to submit for a 60-day public comment period two EITFs: 1) The "Effect of Derivative Contract Novation on Existing Hedge Accounting Relationships" and
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June 29, 2015

FASB Decision-Making Meeting Recap: June 29, 2015

Posted by Ruth Hardie
The FASB met on June 29th in a decision-making meeting. There were three hedge accounting packages presented for board approval: Decision package one relates mainly to non-financial hedges and includes component hedging amongst many other...
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June 22, 2015

FASB Non-Decision Meeting Recap: June 10, 2015 - Part II

Posted by Ruth Hardie
Most of the FASB’s June 10 non-decision making meeting was spent discussing benchmark interest rates. When FAS 133 was originally written, users had to include the full market interest rate, inclusive of credit. FAS 138 was subsequently...
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