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The Board undertook a project on hedge accounting to more closely align hedge accounting with a companys risk management activities. So one of the main benefits for investors and other users of financial statements is that all effects of the hedging instrument now have to be presented in the same income statement line-item as the earnings effect of the hedged item. So a good example of this would be issued debt. The earnings effect of issued debt would be shown in interest expense. And then any derivative hedging that position any change in fair value of that derivative would be shown also in interest expense. And this is in contrast to current GAAP where the so-called ineffectiveness of the hedging relationship very often was presented in a different income statement line-item. But the board felt that it was better if all effects of the hedging instrument were shown together in the same income statement line-item. And this is further shown in the new disclosure requirements. So the e
