FASB Update for Investment Funds

Posted on 10.28.13

Author: Christopher L. Wallace, CPA | Business Assurance & Advisory Services Partner

The Financial Accounting Standards Board (FASB) has had recent discussions regarding financial statement footnote disclosures for investment funds.  FASB is focused on the risks associated with hedge funds and private equity funds that invest in other investment companies. The board plans to release by early 2014 a proposal requiring these investment companies to include information in their financial statement footnotes about their ownership stake, expenses, fees, and their share of income and loss in other investment companies.

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

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