includes all the items on the profit and loss account or balance sheet that are affected by changes in the exchange rate.
Using responses to the ten accounting exposure
drafts receiving the highest public responses, the active role of Big Eight (now Big Five) firms is underscored.
Translation is governed by accounting conventions and therefore also is referred to as accounting exposure
Industry professionals discuss the implications of the revised lease accounting exposure
draft due in 2012 and the changes it will bring to the global leasing markets.
PHILADELPHIA -- The Financial Accounting Standards Board (FASB) and its international counterpart, the International Accounting Standards Board (IASB) continue to redeliberate some of the more complex and controversial aspects of the lease accounting exposure
Risks addressed in this context include the economic risks from payouts under the guarantees and the loss/volatility of revenues, accounting exposure
and operational risks.
A focus on living benefits that fall under mark-to-market accounting ignores other living benefits, which generate identical economic exposures but different accounting exposures
, such as income benefits or withdrawal benefits for life.