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FASB finalizes new approach to hedge accounting

Tammy Whitehouse | August 28, 2017

The Financial Accounting Standards Board has issued its long-awaited new accounting standard to simplify hedge accounting, allowing companies to adopt the new approach almost immediately if they choose.

Accounting Standards Update No. 2017-12 edits the Accounting Standards Codification under Topic 815 to make some “targeted improvements” to the accounting for derivative financial instruments, which companies routinely acquire as part of their risk management strategies to hedge various types of financial and operational risks. The new approach to hedge accounting “better aligns the accounting rule with a company’s risk management activities, better reflects the...

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