General Motors embraces hedge accounting change

General Motors stepped up its use of cash flow hedges in the first quarter after taking advantage of a change in accounting policy intended to make it easier for firms to achieve hedging recognition.

GM adopted Accounting Standards Update (ASU) Topic 815, “Targeted improvements to accounting for hedging activities”, in the three months to March 31. As a result, the carmaker said it had designated a number of foreign currency and commodity forward contracts as cash flow hedges within its

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