World Accounting Report
FASB issues new hedge accounting proposals
The IASB has made several attempts to define the reporting entity, but it seems that a workable definition is elusive. The
standard-setter is reluctant to stray into the area of providing a definition of what is an entity, but it is hard to define
a reporting entity without doing so. Some people are not comfortable with a definition that leaves any fluidity in determining
what is the entity.