FINANCIAL REPORTING DEVELOPMENTS

摘要

Financial reporting developments for the quarter ending November 2017 includes energy industry-promoted changes that make hedge accounting simpler, more flexible, and more representative of the economic effects of hedging in practice. ASTJ 2017-12 Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities is the culmination of a 10-year standard-setting project which was delayed while other financial instrument issues were undergoing revisions through a joint project with the International Accounting Standards Board. Now that ASTJ 2016-01 Financial Instruments-Overall (Suhtopic 825-10) has been completed with implementation required for fiscal years 2018, FASB turned back to modifying some aspects of accounting for derivatives and hedging on an issue by issue basis. This article will summarize the seven major changes.