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FASB issues new rules on gift cards, hedging, equity investments

Tammy Whitehouse | March 16, 2016

In a string of nip-and-tuck improvements to accounting standards, public companies have some new guidance to follow that will enable them to write off lingering gift card liabilities, shore up practice differences in hedge accounting, and simplify any transition to equity method accounting.

Jim DolinarThe guidance around gift cards is perhaps the most broadly applicable, says James Dolinar, a partner at Crowe Horwath and chairman of the Financial Reporting Executive Committee of the American Institute of Certified Public Accountants. Acting on a recommendation from the Emerging Issues Task Force, the Financial Accounting Standards Board adopted...

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