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AcSEC releases Statement of Position (SOP) 02-2, Accounting for Derivative Instruments and Hedging Activities by Not-for-Profit Health Care Organizations, and Clarification of the Performance Indicator. (Accounting).

* AcSEC releases Statement of Position (SOP) 02-2, Accounting for Derivative Instruments and Hedging Activities by Not-for-Profit Health Care Organizations, and Clarification of the Performance Indicator. The SOP is effective for fiscal years beginning after June 15, 2003. It amends the 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 non-hedging derivative instruments under FASB Statement no. 133, Accounting for Derivative Instruments and Hedging Activities, as amended. The SOP also amends the guide to clarify that the performance indicator--or earnings measure--health care organizations report is analogous to income from continuing operations of a for-profit enterprise. Copies of the statement (product code 014935JA) are available from the AICPA at 888-777-7077.
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Publication:Journal of Accountancy
Date:Feb 1, 2003
Words:123
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