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This chapter discusses the requirements for presenting and disclosing freestanding and embedded derivatives, including those to which hedge accounting is applied. It also addresses the presentation and disclosure requirements before and after adoption of ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities. It should be read in conjunction with DH 1, which includes information about how derivatives are traded in the market (i.e., whether they are over-the-counter, centrally-cleared, or exchange-traded) as this may impact their balance sheet and income statement presentation. Refer to FSP 19.2 for the effective dates of the new standards.
The following topics are addressed in this chapter:
  • Balance sheet classification and presentation of derivatives, including offsetting considerations
  • Income statement presentation of derivatives
  • Disclosure requirements for all derivatives and those nonderivative instruments in hedging relationships
Disclosures required by ASC 815-40 for contracts in a reporting entity's own equity are addressed in FSP 5. The statement of cash flows classification of derivatives is addressed in FSP 6.
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