There has been almost no activity by US standard setters with regards to derivative accounting since 2010 the IASB has reached a series of conclusions that they plan to issue before July as IFRS definitive guidance on Derivative and Hedge Accounting. In this session we will review the IASB direction, comparing and contrasting those conclusions with both current guidance under ASC815 and the FASBs proposed changes. This will result in substantial differences for entities preparing separate financials for their international entities.