The Financial Accounting Standards Board (FASB) Thursday issued a final standard that improves the financial reporting of certain hybrid financial instruments by requiring more consistent accounting that eliminates exemptions and provides a means to simplify the accounting for these instruments, according to a press release.
The new standard, “Statement of Financial Accounting Standard No. 155, Accounting for Certain Hybrid Instruments,” is an amendment of FASB Statements No. 133 and 140. It reflects constituent comments provided to the FASB over a 60-day period in 2005
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