A new Financial Accounting Standards Board (FASB) standard, ASU 2017-12, was released in August 2017. The goal was to simplify hedge accounting rules and reporting.
The standard takes effect for public companies for fiscal years starting after December 15, 2018, and for private companies beginning after December 15, 2019. However, the standard permits early adoption, spawning an interesting question: Is there a benefit to adopting prior to the beginning of 2018?
The answer depends on whether the company has recorded losses or gains, or neither, from ineffectiveness in cash-flow hedging relationships.
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