1. Companies shouldn't rush to adopt new hedge accounting standard | Accounting Today

    The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on some one-time benefits. The accounting standards update for hedging, which FASB issued Monday, allows companies takes effect for public companies in 2019 and private companies in 2020 (see FASB releases hedge accounting standard).

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  2. Quotes

    1. Make sure you don't rush to early adoption, and that you do actually take full advantage of all the transition elections you may have.
    2. They'll adopt it a year early, and some may adopt it earlier than that.
    3. If you do hedge accounting, then you've got to show a hedge is going to be highly effective, and usually you've got to do some math to show it's going to fit that criteria.
    4. They're making the requirements as far as what you have to do on day one and what you have to do on an ongoing basis a little bit easier.
    5. People have been waiting for this to come out.
    6. They do have some even more relaxed requirements on when you have to put together your documentation.