The FASB on January 16, 2014, published Accounting Standards Update (ASU) No. 2014-03, Derivatives and Hedging (Topic 815), Accounting for Certain Receive-Variable, Pay-Fixed Interest Rate Swaps—Simplified Hedge Accounting Approach, a consensus of the Private Company Council, to give private companies an easier form of hedge accounting when they use simple interest rate swaps to secure […]

The FASB is scheduled to vote on the first proposals to emerge from the Private Company Council (PCC). If finalized, the proposals would make it easier for private companies to account for goodwill and some types of simple interest rate swaps. The FASB at its November 25, 2013, meeting plans to consider whether to adopt […]