FASB Issues ASU On Balance Sheet Offsetting
In order to add clarity and eliminate diversity in practice, the Financial Accounting Standards Board (FASB) has issued Accounting
Standards Update (ASU) 2013-01, Balance Sheet (Topic 210): Clarifying
the Scope of Disclosures about Offsetting Assets and Liabilities.
The ASU is intended to reduce unintended costs while providing users
with the information necessary to understand the extent to which certain
financial instruments are offset pursuant to master netting