This comprehensive update from KPMG adds guidance on the scope of ASC 815, the definition of derivative, accounting for derivatives and presentation to existing guidance on qualifying criteria and models to apply hedge accounting. This in-depth guide has also been updated for amendments to ASU 2017-12 and recent developments.
Applicability
ASC 815 (ASU 2017-12)
- Companies that have derivative instruments
- Companies that apply hedge accounting
Relevant dates
| Effective Date | Public entities | All other entities |
|---|---|---|
Annual periods – Fiscal years beginning after |
Effective |
December 15, 2020 |
Interim periods – In fiscal years beginning after |
Effective |
December 15, 2021 |
Early adoption allowed? |
Permitted in any annual or interim period |
|
Report contents
- Scope of ASC 815
- Definition of a derivative
- Accounting for derivatives
- General hedging requirements
- Qualifying criteria and accounting for fair value hedges
- Qualifying criteria and accounting for cash flow hedges
- Hedging foreign currency exposures
- Net investment hedges
- Hedge effectiveness
- Presentation
- Private companies and entities that do not reporting earnings
- Effective date and transition
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