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Topic 815 states that an entity should follow other generally accepted accounting principles (GAAP) to determine whether allocation on either a portfolio basis or an individual asset basis is appropriate for disclosure purposes.
ASC 280 requires disclosure of certain general information related to segments. This includes information about the factors used to identify reportable segments, the types of products and services from which reportable segments generate revenues, and whether operating segments have been aggregated.
Hedge accounting disclosures shall provide information about: an entity's risk management strategy and how it is applied to manage risk; how the entity's hedging activities may affect the amount, timing and uncertainty of its future cash flows; and.
The required hedge accounting disclosures apply where the entity elects to adopt hedge accounting and require information to be provided in three broad categories: (1) the entity's risk management strategy and how it is applied to manage risk (2) how the entity's hedging activities may affect the amount, timing and ...
ASC 815 "Derivatives and Hedging" provides guidance on a complex area of accounting. Derivatives are highly leveraged instruments that provide each party exposure to an economic risk without significant upfront costs. Derivatives are mainly used by entities to mitigate risk by offsetting existing financial exposures.
ASC 815-10-15-83 defines a derivative instrument. A derivative instrument is a financial instrument or other contract with all of the following characteristics: Underlying, notional amount, payment provision.
ASC 815 requires a derivative to be recorded on the balance sheet as an asset or liability and to be measured at fair value. Changes in fair value each period are reported in earnings, unless the derivative is designated in a qualifying hedge relationship.
Following are the items that an entreprise must disclose for each reportable segment: Segment revenue. Segment result. Total carrying amount of segment assets. Total amount of segment liabilities. Cost incurred in a given period to acquire segment assets expected to be used during more than one period.