United States

ASU 2016-05: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the FASB Emerging Issues Task Force)

Apr 01, 2016
From Financial Reporting Network

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This Podcast features professionals from KPMG's Department of Professional Practice discussing ASU 2016-05, Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the FASB Emerging Issues Task Force), which clarifies that a change in one of the parties to a derivative contract that is part of a hedge accounting relationship does not, by itself, require dedesignation of that relationship, as long as all other hedge accounting criteria continue to be met.

For additional information on ASU 2016-05, read our Defining Issues 15-53.