The Financial Accounting Standards Board has issued a statement intended to improve financial reporting on derivative instruments and hedging activities.
The statement requires enhanced disclosures to enable investors to better understand their effects on an entity's financial position, financial performance and cash flow. FASB Statement No. 161, "Disclosures about Derivative Instruments and Hedging Activities," is effective for financial statements issued for fiscal years and interim periods beginning after Nov. 15, 2008. The new standard requires disclosure of the fair values of derivative instruments and their gains and losses in tabular format.
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