Printer Friendly
The Free Library
22,749,942 articles and books

Proposed SOP on derivatives, hedging released by AcSEC. (accounting & auditing news).

An exposure draft of a proposed statement of position, Accounting for Derivative Instruments Derivative instruments

Contracts such as options and futures whose price is derived from the price of an underlying financial asset.
 and Hedging Activities by Not-for-Profit Not-for-profit

An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses.
 Health Care Organizations, and Clarification Clarification

The removal of small amounts of fine, particulate solids from liquids. The purpose is almost invariably to improve the quality of the liquid, and the removed solids often are discarded.
 of the Performance Indicator, has been issued by the Accounting Standards Executive Committee. It provides guidance with respect to how nongovernmental not-for-profit health care organizations should report gains or losses on hedging and nonhedging derivative instruments under FASB Statement FASB Statement

A standard set by the Financial Accounting Standards Board regarding a financial accounting and reporting method. Essentially, FASB statements determine the acceptable accounting practices that Certified Public Accountants use in reporting
 No. 133, Accounting for Derivative Instruments and Hedging Activities, and clarifies certain matters with respect to the performance indicator (earnings measure) reported by such organizations. It would amend the Audit and Accounting Guide Health Care Organizations. Comments are due Aug. 13, 2002. The ED has been posted to:

[computer] acctstd/edo/index.htm
COPYRIGHT 2002 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion




Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:statement of position, Accounting Standards Executive Committee
Publication:CPA Letter
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 1, 2002
Previous Article:SEC Historical Society preserves, shares SEC's history.
Next Article:Interpretation to SSARS No. 1 issued. (accounting & auditing news).

Related Articles
The AICPA role in standard setting.
Accounting for foreclosed assets.
Reporting on advertising costs.
A Message from the President.
FASB issues statement 133 implementation guidance for employee benefit plan contracts. (accounting & auditing news).
AcSEC releases Statement of Position (SOP) 02-2, Accounting for Derivative Instruments and Hedging Activities by Not-for-Profit Health Care...
Official releases: FASB No. 148 ... SOP 02-2 ... ethics interpretations and rulings.
Exposure draft released on accounting for time shares. (accounting & auditing news).
Exposure draft issued on allowance for credit losses.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters