Capital Markets Accounting Developments Advisory 2008-12

June 2008
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Capital Markets Accounting Developments Advisory 2008-12: FASB issues an Exposure Draft of the FAS 133 Amendment

At a glance

On June 6, 2008, the Financial Accounting Standards Board ("FASB" or the "Board") released the Exposure Draft "Accounting for Hedging Activities an amendment of FASB Statement No. 133" ("ED") for comment.

August 1, 2008
FASB issues an Exposure Draft of the FAS 133 Amendment


On June 6, 2008, the Financial Accounting Standards Board ("FASB" or the "Board") released the Exposure Draft "Accounting for Hedging Activities an amendment of FASB Statement No. 133" ("ED") for comment. Comments on the ED will be accepted until August 15, 2008. The ED would amend FASB Statement 133 "Accounting for Derivatives and Hedging Activities" ("FAS 133" or the "Standard") and other related literature. The main objectives of the ED are to:

  • Simplify accounting for hedging activities;
  • Improve the financial reporting of hedging activities to make the accounting model and associated disclosures more useful and easier to understand for users of financial statements;
  • Resolve major practice issues related to hedge accounting that have arisen under FAS 133; and
  • Address differences resulting from recognition and measurement anomalies between the accounting for derivative instruments and the accounting for hedged items or transactions.