TITLE

Two Groups Urge GASB to Keep Disclosure Requirements, Abandon Hedge Proposals

AUTHOR(S)
Hume, Lynn
PUB. DATE
August 2006
SOURCE
Bond Buyer;8/1/2006, Vol. 358 Issue 32435, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that industry groups The Bond Market Association and the International Swaps and Derivatives Association has urged the Governmental Accounting Standards Board to keep its disclosure requirements and abandon its hedge accounting proposals for state and local governmental derivatives transactions in the United States. The groups has likewise warned the Board that its proposal to retroactively apply the accounting requirements for derivatives to governments will lead the governments to restate their financial statements.
ACCESSION #
21888530

 

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