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Financial Instruments
The generally accepted accounting principles (GAAP) requirements pertaining to Accounting for Derivative Instruments and Hedging Activities are contained in FASB ASC 815. This chapter presents a basic overview of FASB ASC 815's requirements as to derivative financial instruments. FASB ASC 815 has two main components. On the first component, not‐for‐profit organizations would follow the requirements of FASB ASC 815, as would commercial enterprises. On the second component, FASB ASC 815 provides very specific guidance for determining when derivatives are considered one of several types of hedges. The disclosure requirements of SFAS 133 (FASB ASC 815) relating to not‐for‐profit organizations that hold or issue derivative instruments would relate to those derivative instruments designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Standards under FASB ASC 820 for measuring fair value are uniformly applied across all accounting standards that require fair value measurement, including financial instruments.
Financial Instruments
The generally accepted accounting principles (GAAP) requirements pertaining to Accounting for Derivative Instruments and Hedging Activities are contained in FASB ASC 815. This chapter presents a basic overview of FASB ASC 815's requirements as to derivative financial instruments. FASB ASC 815 has two main components. On the first component, not‐for‐profit organizations would follow the requirements of FASB ASC 815, as would commercial enterprises. On the second component, FASB ASC 815 provides very specific guidance for determining when derivatives are considered one of several types of hedges. The disclosure requirements of SFAS 133 (FASB ASC 815) relating to not‐for‐profit organizations that hold or issue derivative instruments would relate to those derivative instruments designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Standards under FASB ASC 820 for measuring fair value are uniformly applied across all accounting standards that require fair value measurement, including financial instruments.
Financial Instruments
Larkin, Richard F. (author) / DiTommaso, Marie (author)
Wiley Not‐for‐Profit <fc>GAAP</fc> 2019 ; 491-501
2019-09-11
11 pages
Article/Chapter (Book)
Electronic Resource
English
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