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Journal entry — IASB issues draft of forthcoming hedge accounting guidance

Published on: Sep 10, 2012

Last week, the IASB posted a draft of its forthcoming general hedge accounting requirements on its Web site. The purposes of the new requirements, which will become part of IFRS 9, Financial Instruments, are to (1) more closely “align hedge accounting . . . with risk management [practices]” and (2) “establish a more principle-based approach to hedge accounting.”

Editor’s Note: The draft does not include guidance from the IASB’s project on macro hedge accounting. The Board expects to issue a discussion paper on that project by the end of 2012.

Although the IASB is encouraging constituents to familiarize themselves with the guidance, it is not soliciting comments on the draft. The Board expects to approve the amendments in December.

For additional information, watch for Deloitte’s upcoming Heads Up about the draft.

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