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ASU 2017-12 simplifies accounting for hedging activities

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This bulletin summarizes the provisions of ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, which simplifies how the current hedge accounting guidance is applied and improves how the economic results of an entity’s risk management activities are portrayed in the financial statements. The guidance expands and refines hedge accounting for both nonfinancial and financial risk components, and aligns the recognition and presentation requirements for the effects of both the hedging instrument and the hedged item in the financial statements.