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5 Good Reasons Why Treasury and Procurement Need to Work Together

Five-Good-Reasons-Why-Treasury-and-Procurement-Need-to-Work-In 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 133: Accounting for Derivative Instruments and Hedging. This rule required all derivative instruments to be recorded on balance sheets, including those used by non-financial companies to offset fluctuations in foreign exchange, interest rates and commodity prices. Companies marking to market the value of their derivatives, rather than applying new and complex hedge accounting rules, didn’t quite know what they were in for – until volatile markets wreaked havoc on P&L statements.

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