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2 gru 2020 · IAS 39 Financial Instruments: Recognition and Measurement outlines the requirements for the recognition and measurement of financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
In April 2001 the International Accounting Standards Board (Board) adopted IAS 39 Financial Instruments: Recognition and Measurement , which had originally been issued by the International Accounting Standards Committee (IASC) in March 1999.
IAS 39 establishes principles for recognising and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. It also prescribes principles for derecognising financial instruments and for hedge accounting.
1 sty 2005 · IAS 39 deals with derecognition of financial instruments and outlines derecognition decision tree to help decide whether a financial asset shall be derecognized or not. Rules for derecognition of financial liabilities are more simple than those related to financial assets.
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
IAS 39 has been replaced by IFRS 9 Financial Instruments, except for (1) Insurance entities (2) Entities that continue to apply relevant hedge accounting guidance. INITIAL RECOGNITION. Financial instruments are recognised on the statement of financial position when the entity becomes party to the contractual provisions of the instrument.
IAS 39 Financial Instruments: Recognition and Measurement sets out the principles for recognising and measuring financial liabilities and some contracts to buy or sell non-financial items. This page provides information on the standard and recent amendments, alongside ICAEW factsheets and guides.
