FASB Releases Exposure Drafts on Loss Contingencies, Hedging
June 10, 2008
On June 5, 2008, the Financial Accounting Standards Board (FASB) released an Exposure Draft, “Disclosure of Certain Loss Contingencies,” which would amend FAS 5 “Accounting for Contingencies,” and certain portions of FAS 141R, Business Combinations. The comment deadline is August 8.
Separately, on June 9, FASB an Exposure Draft, "Accounting for Hedging Activities." The Exposure Draft would amend FAS 133, Accounting for Hedging Activities. The comment period ends August 15.
Other summaries from:
Deloitte (proposed amendments to hedging)
Deloitte (proposed amendments to loss contingencies)
KPMG (proposed amendments to hedging)
Updated June 12, 2008 by Edith Orenstein, Director, Technical Policy Analysis, Financial Executives International. This summary does not represent FEI opinion unless specifically noted above.