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 instrumentsContracts 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] www.aicpa.org/members/div/ acctstd/edo/index.htm |
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