Financial Accounting Standards Board Releases Hedge Accounting Standard

financial accounting standards board hedge accounting guidelines After a long drawn out phase, the FASB (Financial Accounting Standards Board) has released their new guidelines for hedge fund accounting…

“The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting Standards Board…” [ Read more here ]

New Accounting Rules Looming Over Revenue Reporting

revenue reporting accounting changes - sterling accounting New accounting rules are looming for businesses and corporations, which is causing a stir for many as their revenue reporting methods are being overhauled. “The U.S. Financial Accounting Standards Board, known as FASB, imposed the new rule because it wanted financial statements to more accurately depict the timing, uncertainty and volatility of doing business. The rule will align a company‚Äôs booking of revenue with the sales of products and services…” [ Read more here ]