Although it has received little media attention, the "Exposure Draft" issued by FASB providing "Targeted Improvements to Accounting for Hedging Activities" could significantly simplify both attaining and maintaining hedge accounting treatment, especially in the commodities field. The comment period regarding this rule ends November 22, 2016 and the rule is expected to be finalized in the first half of 2017.
We urge interested parties to submit comments either via the FASB website or by email to firstname.lastname@example.org File Reference no. 2016-310.
Proposed Accounting Standards Update—Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities