Financial Accounting Standards Board's Rule: Hearing Before the Subcommittee on Capital Markets, Securities, and Government Sponsored Enterprises of the Committee on Banking and Financial Services, House of Representatives, One Hundred Fifth Congress, First Session, October 1, 1997, Volume 4 |
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accounting for derivatives accounting rules Accounting Standards Board adjustment approach asset or liability assets and liabilities balance sheet Bankers Trust believe capital markets cash flow hedge Chairman BAKER companies comprehensive income concerns CONGRESS THE LIBRARY contracts current accounting dealers derivative instruments derivatives and hedging disclosure effective entity equity example Exposure Draft fair value accounting fair value hedge FASB proposal FASB's Federal Reserve Financial Accounting Standards financial institutions financial instruments financial reporting financial statements forecasted transaction foreign currency gain or loss gains and losses Government Sponsored Enterprises hedge accounting hedged item hedged transaction hedging activities hedging instrument historical cost IASC income statement interest rate risk interest rate swap investment issues JENKINS KANJORSKI LEVITT loans mark-to-market market value million option paragraph portfolio RARY regulators requirements respondents result revised proposed standard risk management risk management strategy securities swap Task Force Draft transparency understand volatility
Popular passages
Page 72 - Association brings together all categories of banking institutions to best represent the interests of the rapidly changing industry. Its membership which includes community, regional and money center banks and holding companies, as well as savings associations, trust companies and savings banks makes ABA the largest banking trade .association in the country.
Page 189 - Fair value is the most relevant measure for financial Instruments and the only relevant measure for derivative instruments.
Page 144 - Board (FASB) is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information.
Page 199 - ... the hedged risk that could affect reported earnings. The reference to affecting reported earnings does not apply to an entity that does not report earnings as a separate caption in a statement of financial performance, such as a not-for-profit organization, as discussed in paragraph 39.
Page 126 - What Process Does the FASB Follow in Developing Accounting Standards? Because the actions of the FASB affect so many organizations, its decisionmaking process must be open, thorough, and as objective as possible. The FASB carefully considers the views of all interested parties, including users, auditors, and preparers of financial reports of both public and private enterprises, including small businesses.
Page 189 - INTRODUCTION 1. This Statement addresses the accounting for derivative financial instruments' and other financial instruments with similar characteristics and for hedging activities. 2. Prior to this Statement, hedging activities related to foreign exchange rate changes were addressed in FASB Statement No. 52, Foreign Currency Translation. FASB Statement No. 80, Accounting for Futures Contracts, addressed the use of futures contracts in other hedging activities. Those Statements addressed only certain...
Page 245 - Throughout its history, however, the Commission's policy has been to rely on the private sector for this function to the extent that the private sector demonstrates ability to fulfill the responsibility in the public interest.
Page 206 - ... and reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings.
Page 127 - All meetings are open to public observers, although observers do not participate in the discussions. The agenda for each meeting is announced in advance. The staff...
Page 203 - Both at the inception of the hedge and on an ongoing basis, the hedging relationship is expected to be highly effective...