The IASB issued amendments to IAS 32 Financial Instruments: Presentation that provide clarifications on the application of the offsetting rules. This joint project between the IASB and FASB was intended to address the differences in their respective accounting standards regarding offsetting of financial instruments. However, the FASB decided to retain the current US GAAP guidance. Therefore, the Boards decided to jointly focus on developing converged disclosure requirements to allow financial statement users the ability to more easily compare financial instruments exposures under IFRS and US GAAP. Additionally, the IASB decided to amend IAS 32 to clarify certain aspects because of diversity in application that was identified during the IASB constituent outreach.
IASB and FASB issue common offsetting disclosure requirements
19 de diciembre de 2011 | Actualidad