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FASB proposes updates to financial instrument rules

Tammy Whitehouse | November 27, 2018

The Financial Accounting Standards Board has issued a proposed accounting standards update to address a number of clarity or implementation issues associated with three major standards on financial instruments.

The proposal would edit standards on recognizing and measuring financial instruments, credit losses, and derivatives, all of which FASB issued separately to take effect at staggered times over the course of a few years. The board has monitored implementation of the standards and considered the need for corrections or clarifications to help companies best observe the requirements. The proposed changes are not expected to have a significant effect on accounting practice or to create a significant administrative cost...

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