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Derivatives: new disclosures required

The CPA journal (1975), 2008-11, Vol.78 (11), p.28

COPYRIGHT 2008 New York State Society of Certified Public Accountants ;Copyright New York State Society of Certified Public Accountants Nov 2008 ;ISSN: 0732-8435

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Title:
Derivatives: new disclosures required
Author: Apostolou, Barbara ; Apostolou, Nicholas G
Subjects: Accounting ; Balance sheets ; Banking industry ; Contracts ; Derivatives ; Disclosure ; Disclosure (Securities law) ; Fair value ; FASB statements ; Financial accounting standards ; Financial performance ; Financial statements ; Foreign exchange rates ; Hedging ; Interest rates ; Investment banks ; Over the counter trading ; Risk exposure ; SFAS 161 ; Swaps (Finance)
Is Part Of: The CPA journal (1975), 2008-11, Vol.78 (11), p.28
Description: In March 2008, FASB issued SFAS 161, Disclosures about Derivative Instruments and Hedging Activities, which expands disclosures about derivative instruments and hedging activities. Derivatives are financial instruments with a value derived from fluctuations in the share of an underlying asset, liability, interest rate, exchange rate, or index. Derivatives can be traded over-the-counter (OTC) or on an exchange. OTC derivatives are traded directly between two parties, without using an exchange to facilitate the trade. SFAS 161 improves transparency by disclosing more information as to where derivative investments are reflected in the financial statements and the amounts of such derivatives. Issuers must now disclose the fair values of derivatives and their gains and losses in a tabular format, which should enable investors to better assess the contribution of derivatives to earnings and financial risk. In addition, companies must now reveal more information about risk exposure, and distinguish between derivatives used for risk management and those used for speculation.
Publisher: New York: New York State Society of Certified Public Accountants
Language: English
Identifier: ISSN: 0732-8435
Source: ProQuest Central

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Derivatives: new disclosures required

COPYRIGHT 2008 New York State Society of Certified Public Accountants ;Copyright New York State Society of Certified Public Accountants Nov 2008 ;ISSN: 0732-8435

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