KPMG reports on ASU 2017-12, which amends ASC 815. The amendments aim to reduce the cost and complexity of applying hedge accounting, and expand the types of relationships that qualify for hedge accounting.
Mandatory effective dates and early adoption provisions:
Annual periods – Fiscal years beginning after
December 15, 2018
Dec. 15, 2019
Interim periods – In fiscal years beginning after
Dec. 15, 2018
Dec. 15, 2020
Early adoption allowed? Yes.