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- Title
A Ten-Step Plan for Implementing the Controversial New Derivatives Standard.
- Authors
Royall II, Robert L.; McCray, Greg
- Abstract
The article presents a ten-step plan for implementing the controversial new derivatives standard. The Financial Accounting Standards Board issued its controversial new standard on derivatives, Statement No. 133, Accounting for Derivative Instruments and Hedging Activities in June 1998. Statement 133 provides a comprehensive and consistent standard for the recognition and measurement of derivatives and hedging activities. The new Statement requires all derivatives to be recorded on the balance sheet at fair value and establishes special accounting for the following three different types of hedges, namely, hedge of the exposure to changes in the fair value of a recognized asset or liability, hedge of the exposure to variability in the cash flows of a recognized asset or liability and hedge of the foreign currency exposure of a net investment in foreign operation.
- Subjects
ACCOUNTING standards; HEDGING (Finance); FINANCIAL statements; FAIR value; ASSETS (Accounting); FOREIGN exchange; INVESTMENTS
- Publication
Journal of Corporate Accounting & Finance (Wiley), 1999, Vol 10, Issue 2, p1
- ISSN
1044-8136
- Publication type
Article
- DOI
10.1002/1097-0053(199924)10:2<1::AID-JCAF1>3.0.CO;2-O