11. Supersede paragraph 815-20-25-131A and add paragraphs 815-20-25-131AA through 25-131AB, with no link to a transition paragraph, as follows:
Derivatives and Hedging—Hedging—General
Recognition
> > > > Assuming No Hedge Ineffectiveness in a Cash Flow Hedge of a Variable-Rate Borrowing with a Receive-Variable, Pay-Fixed Interest Rate Swap Recorded under the Simplified Hedge Accounting Approach
815-20-25-131A Paragraph superseded by Accounting Standards Update No. 2016-03. The conditions for the simplified hedge accounting approach determine which cash flow hedging relationships qualify for a simplified version of hedge accounting. If all of the conditions in paragraphs 815-20-25-131B and 815- 20-25-131D are met, an entity may assume that there is no ineffectiveness in a cash flow hedging relationship involving a variable-rate borrowing and a receive-variable, pay-fixed interest rate swap.
[Content moved to paragraph 815-20-25-131AB]
815-20-25-131AA Paragraphs 815-10-35-1A through 35-1C, 815-10-50-3, 815-20-25-119, 815-20-25-131AB through 25-131E, 815-20-55-79A through 55-79B, 825-10-50-3, and 825-10-50-8 provide guidance for an entity electing the simplified hedge accounting approach. See paragraph 815-10-65-6 for transition guidance on applying the simplified hedge accounting approach.
815-20-25-131AB The conditions for the simplified hedge accounting approach determine which cash flow hedging relationships qualify for a simplified version of hedge accounting. If all of the conditions in paragraphs 815-20-25-131B and 815-20-25-131D are met, an entity may assume that there is no ineffectiveness in a cash flow hedging relationship involving a variable-rate borrowing and a receive-variable, pay-fixed interest rate swap. [Content moved from 815-20-25-131A]
12. Amend the following paragraphs by changing references to paragraph 81520-25-131A to paragraph 815-20-25-131AB:
a. 815-10-35-1A
b. 815-10-50-3.
13. Amend paragraph 350-20-00-1, by adding the following items to the table, as follows:
350-20-00-1 The following table identifies the changes made to this Subtopic.
Paragraph |
Action |
Accounting Standards Update |
Date |
350-20-15-3A |
Added |
2016-03 |
03/07/2016 |
350-20-65-2 |
Amended |
2016-03 |
03/07/2016 |
14. Amend paragraph 805-20-00-1, by adding the following items to the table, as follows:
805-20-00-1 The following table identifies the changes made to this Subtopic.
Paragraph |
Action |
Accounting Standards Update |
Date |
Financial Statements Are Available to Be Issued |
Superseded |
2016-03 |
03/07/2016 |
805-20-15-1A |
Added |
2016-03 |
03/07/2016 |
805-20-65-2 |
Amended |
2016-03 |
03/07/2016 |
15. Amend paragraph 810-10-00-1, by adding the following items to the table, as follows:
810-10-00-1 The following table identifies the changes made to this Subtopic.
Paragraph |
Action |
Accounting Standards Update |
Date |
Financial Statements Are Available to Be Issued |
Superseded |
2016-03 |
03/07/2016 |
810-10-15-17A |
Superseded |
2016-03 |
03/07/2016 |
810-10-15-17AA |
Added |
2016-03 |
03/07/2016 |
810-10-15-17AB |
Added |
2016-03 |
03/07/2016 |
810-10-15-17B |
Amended |
2016-03 |
03/07/2016 |
810-10-15-17C |
Amended |
2016-03 |
03/07/2016 |
810-10-50-2AD |
Amended |
2016-03 |
03/07/2016 |
810-10-55-9 |
Amended |
2016-03 |
03/07/2016 |
810-10-55-205AJ through 55-205AR |
Amended |
2016-03 |
03/07/2016 |
810-10-65-4 |
Amended |
2016-03 |
03/07/2016 |
16. Amend paragraph 815-10-00-1, by adding the following items to the table, as follows:
815-10-00-1 The following table identifies the changes made to this Subtopic.
Paragraph |
Action |
Accounting Standards Update |
Date |
815-10-35-1A |
Amended |
2016-03 |
03/07/2016 |
815-10-50-3 |
Amended |
2016-03 |
03/07/2016 |
815-10-65-6 |
Amended |
2016-03 |
03/07/2016 |
17. Amend paragraph 815-20-00-1, by adding the following items to the table, as follows:
815-20-00-1 The following table identifies the changes made to this Subtopic.
Paragraph |
Action |
Accounting Standards Update |
Date |
815-20-25-131A |
Superseded |
2016-03 |
03/07/2016 |
815-20-25-131AA |
Added |
2016-03 |
03/07/2016 |
815-20-25-131AB |
Added |
2016-03 |
03/07/2016 |
The amendments in this Update were adopted by the unanimous vote of the seven members of the Financial Accounting Standards Board:
Russell G. Golden, Chairman
James L. Kroeker, Vice Chairman
Daryl E. Buck
Thomas J. Linsmeier
R. Harold Schroeder
Marc A. Siegel
Lawrence W. Smith