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1、Hedge Accounting Rules - PWC2013Guide to Accounting for Derivative Instruments and Hedging Activities.pwc4This publication has been prepared for general information on matters of interest only, and does not constitute professional advice on facts and circumstances specific to any person or entity. Y
2、ou should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication. The information contained in this mate
3、rial was not intended or written to be used, and cannot be used, for purposes of avoiding penalties or sanctions imposed by any government or other regulatory body. PricewaterhouseCoopers LLP, its members, employees and agents shall not be responsible for any loss sustained by any person or entity w
4、ho relies on this publication.The content of this publication is based on information available as of March 31, 2013. Accordingly, certain aspects of this publication may be superseded as new guidance or interpretations emerge. Financial statement preparers and other users of this publication are th
5、erefore cautioned to stay abreast of and carefully evaluate subsequent authoritative and interpretive guidance that is issued.This publication has been updated to reflect new and updated authoritative and interpretive guidance since the 2012 edition. See Appendix B for a summary of changes from the
6、2012 edition.Portions of FASB Accounting Standards Codification?#0046994, copyright ? by Financial Accounting Foundation, 401 Merritt 7, Norwalk, CT 06856, are reproduced by permission.Dear Clients and Friends: PricewaterhouseCoopers is pleased to offer this updated comprehensive guide, which is mea
7、nt to help you meet the challenges of accounting for derivative instruments and hedging activities. Domestically and internationally, the volume, variety, and inherent complexity of derivative transactions have steadily increased and the nature of hedging activities continues to evolve. In practice,
8、 hedge accounting is difficult to apply and leads to divergent interpretations. For this reason, the use of derivative instruments and related hedging activities still attracts heightened scrutiny from regulators and other interested parties.In this guide we attempt to clarify a complex area of acco
9、unting by providing relevant guidance and examples. We also add our own perspective throughout, based on both our analysis of the guidance and our experience in applying it.The FASB continues to amend and provide further clarification of the accounting and disclosure requirements for derivative and
10、hedging activities to keep pace with the ever evolving nature of derivative transactions. Additional FASB guidance is sure to come, since practice issues will continue to arise in this area. We will keep you up-to-date on new guidance through further communications whenever it is necessary and usefu
11、l.Although this publication is intended to clarify the fundamental requirements of accounting for derivative instruments and to highlight key points that should be considered before transactions are undertaken, it is not a substitute for a thorough analysis of the facts and circumstances surrounding
12、 proposed transactions, nor should it be read in place of the relevant accounting literature. Nonetheless, we trust that you will find in these pages information and insights that will allow you to work with greater confidence and certainty when accounting for derivative instruments and hedging acti
13、vities.PricewaterhouseCoopers LLPTable of Contents / ITable of ContentsChapter 1: Executive Summary1.1 Historical Perspective .1 - 21.2 Fundamental Principles of Accounting for Derivatives and Hedging Activities .1 - 21.3 Challenges Associated With Accounting for Derivatives and Hedging Activities .1 - 31.3.1 Securing Resources With the Appropriate Background and Work Experience .1 - 31.3.2 Preparing Hedge Documentation .1 - 41.3.3 Coordinating Between Departments .1 - 41.3.4 Applying Hedge Accounting and the Shortcut Method .1 - 41.3.5 Identifying Embedded Derivatives .
