Accounting bodies launch offsetting debate.

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The US and international accounting standards boards plan to hold several public round table meetings in May to generate discussion about financial asset and financial liability offsetting.

The aim is to address differences between International Financial Reporting Standards and US accounting standards in relation to the offsetting of derivative contracts and other financial instruments. This can result in material differences in financial reporting by financial institutions. The purpose of the meetings is to engage with the users, preparers and auditors of financial...

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