Hedge Accounting Proposal Coming Later This Summer
On June 9, the Financial Accounting Standards Board (“FASB”) announced that proposed updates to its hedge accounting guidance will be released in either August or September. FASB research staffers plan to submit the proposal’s latest version at a meeting in July reflecting changes offered during the “fatal flaw” review. Such reviews are commonly held prior to the FASB release of a key proposed or final update.
FASB Technical Director Susan Cosper does not expect staff members to present new issues during next month’s meeting, but rather suggest the FASB to revisit the transaction guidance.