Magazine article The CPA Journal

Abbreviated Re-Exposure of Proposed Derivatives Accounting Standards

Magazine article The CPA Journal

Abbreviated Re-Exposure of Proposed Derivatives Accounting Standards

Article excerpt

The FASB announced in late August that it was distributing final draft of its proposed accounting for derivatives and similar financial instruments to its Financial Instruments Task Force with a request for comment on the operational effectiveness and clarity of the draft. Because of the high level of interest, the board also decided to make the draft broadly available to other interested parties who may wish to comment on its clarity and operational effectiveness.

The board's stated intention is to issue a final statement by December 31, 1997. In announcing the limited re-exposure, the board said it would close the comment period 45 days after the date of distribution to the task force and would not consider comments received after that cut-off date.

The announcement is a bold move on the part of the board to move forward in spite of continued pressure from the financial community to make a full re-exposure of the document. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.