What are the primary problems or issues the fasb

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Reference no: EM131007261

In an effort to keep up with the rapidly changing global financial markets, the FASB issued standards on accounting for and disclosure of derivative financial instruments. A Journal of Accountancy article that discusses this standard is "The Decision on Derivatives," by Arlette C. Wilson, Gary Waters and Barry J. Bryan, November 1998.

Required:

On the Internet, go to the AICPA site at www.aicpa.org and find the article mentioned.

1. What are the primary problems or issues the FASB attempts to address regarding accounting for derivative financial instruments?

2. In considering the issues, the FASB made four fundamental decisions that became the cornerstones of the statement issued in 1998. What are those fundamental decisions? Which do you think is most critical to fair financial reporting? 

Reference no: EM131007261

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