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<a href="http://www.accessmylibrary.com/coms2/summary_0286-29920724_ITM" title="Facts and information about Initial GASB position on derivatives: the GASB's recent proposal would extend the requirement for fair value reporting to all derivative transactions of the state and local governments.(The Accounting Angle)(Governmental Accounting Standards Board )">Initial GASB position on derivatives: the GASB's recent proposal would extend the requirement for fair value reporting to all derivative transactions of the state and local governments.(The Accounting Angle)(Governmental Accounting Standards Board )</a>
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Initial GASB position on derivatives: the GASB's recent proposal would extend the requirement for fair value reporting to all derivative transactions of the state and local governments.(The Accounting Angle)(Governmental Accounting Standards Board )
This past spring, the Governmental Accounting Standards Board (GASB) published its initial position on the appropriate treatment of derivatives in the form of the preliminary views document (PV) Accounting and Financial Reporting for Derivatives. The board plans to proceed with the issuance of an exposure draft once it has had adequate time to consider responses to the PV. This article will briefly summarize the proposals set forth in the PV.
BACKGROUND
In simple terms, a derivative is a financial instrument or contract that involves both a variable factor (reference rate) and a potential payment that are associated in one of two ways:
* As a ...
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Source: HighBeam Research, Initial GASB position on derivatives: the GASB's recent proposal...