SOP issued on accounting for derivatives, hedging. (accounting & auditing news).Statement of Position 02-2, 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 Health Care Organizations, and Clarification of the Performance Indicator (No. 014935CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. 02), has been issued by the AICPA's Accounting Standards Executive Committee. The SOP is effective for fiscal years beginning after June 15, 2003. The SOP amends the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Audit and Accounting Guide Health Care Organizations to address 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, as amended. It also amends the guide to clarify that the performance indicator (earnings measure) reported by not-for-profit health care organizations is analogous to income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of a for-profit enterprise. To order a copy of SOP 02-2, see page 6 (price: $14 member, $17.50 non-member.) |
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