Bloomberg Tax & Accounting has enhanced its Accounting Policy and Practice Portfolio Accounting and Disclosure for Derivatives and Hedging Instruments. The additions reflect updated guidance from the Financial Accounting Standards Board, which have been among influences that have dramatically changed the hedge accounting arena."We have expanded this Portfolio to help accounting professionals navigate the significant regulatory shifts in how FASB accounts for hedging activities," Jean McCormick, VP of analysis and content, said in a prepared statement.
Written by consultant, George Georgiades, the portfolio examines how an entity accounts for derivatives and hedging activities under GAAP as established by FASB’s Accounting Standards Codification.
Bloomberg says the portfolio covers the following: “Synthesizes the existing authoritative guidance as set primarily in ASC 815, Derivatives and Hedging; Offers insight into the rationale for, and practical consequences of, the authoritative guidance; Provides context for and observations about illustrative examples set out in the authoritative guidance; and Includes practical points (‘Bloomberg Tax & Accounting Note’) that further enhance the understanding, application, and implementation of the authoritative guidance.”
