✦ LIBER ✦
FASB's derivatives ED: Some concerns about applying the proposed standard
✍ Scribed by Pamela A. Smith; Carrie Cazolas; Curtis Norton
- Book ID
- 102874591
- Publisher
- John Wiley and Sons
- Year
- 1996
- Tongue
- English
- Weight
- 880 KB
- Volume
- 8
- Category
- Article
- ISSN
- 1044-8136
No coin nor oath required. For personal study only.
✦ Synopsis
Illinois University. C a d C a z o h , CPA, is a Division Manager in Corporate Accounting at Allstate Insurance Company. Curtis Norton, Ph.D., is the Deloitte and Touche Professor of Accountancy at Northern Illinois University. Dr. Smith and Dr. Norton have published many articles concerning the issues of derivative financial instruments, including internal control issues and industry-specific issues, as well as financial reporting
and disclosure issues. Ms.
Cazolas specializes in the accounting for derivative and other complex financial instruments and assists the company in refining its strategic framework for managing market risk.
There is no doubt that the sophistication of transactions and needs of financial statement users have outpaced accounting rules. The authors discuss the latest FASB exposure draft on derivatives, but also air some concerns about applying it.
he time has come. The accounting and reporting issues for derivative financial instruments and hedging activities are