The Financial Accounting Standards Board issued a new standard the that addresses concerns about accounting for derivatives. It covers the application of derivative accounting to contracts with features based on the operations or activities of one of the parties to the contract as well as the diversity in accounting for share-based noncash consideration from a customer that is consideration for the transfer of goods or services.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• FASB Issues Standard on Derivatives Scope Refinements
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group