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What is offsetting?

Management Dictionary
Accounting and editing

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Offsetting means offsetting assets and liabilities and only reporting the net values in the financial statements. Whether offsetting should be allowed remains the largest difference between US and international accounting standards. Banning offsetting will have a significant impact on the financial statements, especially the banks. Hence, US banks stay firmly opposed to restricting offsetting in accounting due to great negative impact on the banks capital ratios.

Links & resources

https://storage.fasb.org/0070-%201830-100%20JPMORGAN%20CHASE%20%26%20CO.%20LOUIS%20RAUCHENBERGER.pdf
https://www.fasb.org/page/document?pdf=Proposed+ASU+Balance+Sheet+(Topic+210)+Clarifying+the+Scope+of+Disclosures+about+Offsetting+Assets+and+Liabilities.pdf&title=Proposed%20Accounting%20Standards%20Update%E2%80%94Balance%20Sheet%20(Topic%20210):%20Clarifying%20the%20Scope%20of%20Disclosures%20about%20Offsetting%20Assets%20and%20Liabilities

Keywords

compensation carbone, International Accounting Standards, legal right to set off, offsetting

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