FASB consults on taxonomy changes for new hedge accounting proposals
The US Financial Accounting Standards Board (FASB) has issued proposed GAAP Taxonomy Improvements for comment, accompanying a proposed Accounting Standards Update on hedge accounting. Comments are open until 17 August.
The Taxonomy changes relate to a proposed Update on Targeted Improvements to Accounting for Interest Rate Risk Hedging and Net Investment Hedging (Topic 815), which aims to broaden the application of hedge accounting and better reflect the economics of entities’ risk management activities.
Read the release notes here.
