The American Institute of CPAs’ Financial Reporting Executive Committee (FinREC) submitted comments to the Financial Accounting Standards Board regarding FASB’s targeted improvements to accounting for hedging activities.
The letter, in response to FASB’s Proposed Accounting Standards Update, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” noted: “The current hedging standard can be challenging for reporting entities to apply properly. Achieving hedge accounting for financial and nonfinancial risks under the current guidance has also proven to be very challenging.” The letter was signed by FinREC chairman James Dolinar and Financial Instruments Task Force chairwoman Linda Bergen.
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