FASB’s New Standard for Financial Instruments

Financial Institutions

March 01, 2016
by Brett Schwantes, CPA

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Brett Schwantes Brett Schwantes, CPA
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The Financial Accounting Standards Board (FASB) has finalized the first standard to emerge from its longstanding financial instruments project.  This project began around 2005 as a joint project with the International Accounting Standards Board (IASB) to improve and achieve convergence of their respective standards on the accounting for financial instruments.  Eventually, the project was divided into three separate financial instrument projects:  classification and measurement, impairment, and hedging.

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