Heads Up: FASB and IASB Issue New Balance Sheet Offsetting Disclosure RequirementsVolume 18, Issue 42 |
This issue of Heads Up discusses the FASB's recently issued Accounting Standards Update No. 2011-11, Disclosures About Offsetting Assets and Liabilities, which creates new disclosure requirements about the nature of an entity’s rights of setoff and related arrangements associated with its financial instruments and derivative instruments. The Heads Up outlines the scope and key provisions of the ASU and discusses implementation considerations for the adoption of the new requirements. In addition, Appendixes A through C contain examples of the disclosures.
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