GEN CMB(LL)INTRM ACCTG
GEN CMB(LL)INTRM ACCTG
18th Edition
ISBN: 9781260714067
Author: SPICELAND
Publisher: MCG
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Chapter A, Problem 4BYP

Research Case A–4

Issue related to the derivatives standard; research an article

Required:

On the Internet, go to the AICPA site at www.aicpa.org and find the article mentioned.

  1. 1. What are the primary problems or issues the FASB attempts to address regarding accounting for derivative financial instruments?
  2. 2. In considering the issues, the FASB made four fundamental decisions that became the cornerstones of the statement issued in 1998. What are those fundamental decisions? Which do you think is most critical to fair financial reporting?
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