Finally several privileged observers seemed to be quite sceptical about the TUEL provisions for different reasons: LGs are expected to draw up a statement of financial performance
and a balance sheet, without being compelled to introduce the double-entry bookkeeping; they are expected to adopt management control but the law does not require an accrual-based budget nor any year-end report to compare to the EMP and the cost accounting is not mandatory.
The location and amount of the gains and losses reported in the statement of financial performance (or when applicable the statement of financial position for example, gains and losses initially recognized in other comprehensive income [OCI]) on derivative instruments and related hedged items.
The disclosure shall identify the line item(s) in the statement of financial performance in which the gains and losses for these categories of derivative instruments are included.
(See Example 1 in the disclosures section of Appendix B of this Statement for an illustration of a nontabular presentation.) See Example 2 in the disclosures section of Appendix B of this Statement for an illustration of the disclosures about the gains and losses on derivative instruments reported in the statement of financial performance.
(2) The line items in the statement of financial performance in which trading activities gains and losses are included
For information on the location and amounts of derivative fair values in the statement of financial position and derivative gains and losses in the statement of financial performance, see the tabular information resented in Example 2 below.
Tabular Disclosure of (a) Fair Values of Derivative Instruments in a Statement of Financial Position and (b) the Effect of Derivative Instruments on the Statement of Financial Performance [See tables pages 122-123]