FASB’s Proposed Changes to Hedge and Derivative Accounting Rules Draw Strong Criticism

The Financial Accounting Standards Board’s ambitious initiative to introduce changes to hedge and derivative accounting rules has met with widespread skepticism and bewilderment from market players.  We analyze the status and likely future course of the initiative, based on a review of all comments received by the FASB on its June 6, 2008 Exposure Draft and interviews with affected market participants.

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