FASB issued its final accounting standard update in August 2017 - effective for public companies in 2019 and private companies in 2020, with early adoption permitted. They claimed that, “The new standard refines and expands hedge accounting for both financial (e.g., interest rate) and commodity risks. Its provisions create more transparency around how economic results are presented, both on the face of the financial statements and in the footnotes, for investors and analysts.”
GTreasury new module
GTreasury is an integrated SaaS solution for treasury and risk management. The new ASC 815 module, enables corporate treasury departments accounting for derivatives under FASB’s ASC 815 hedge accounting standard.
With the new module, companies can now handle:
- Relaxation of the change in the lesser of the cumulative change (30(b)) rule for cash flow and net investment hedges, resulting in reduced P&L volatility
- Hedging of the benchmark rate for interest rate fair value hedges
- Treatment of option time value, currency basis and FX forward points as excluded components of OCI
- Amortization of option time value and FX forward points
- Partial Term hedging of interest rate exposures
- Hedging of the contractually specified interest rate for IR cash flow hedges
- Qualitative retrospective effectiveness assessment.
“Mandatory reporting is right around the corner, and our clients will be able to benefit now,” says GTreasury Vice President of Market Development, Risk, Peter Seward. “These are very positive changes to the North American hedge accounting standard that will bridge the gap between the accounting and economic outcomes of derivatives use, and will in most cases, help reduce P&L volatility. The release of our new module underscores GTreasury's visual approach to complex topics, and it complements our well-known cash management and debt and investment offerings, reinforcing GTreasury's position as a leading treasury and risk management system.”
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