IAS 39

Accounting

Historical cost Constant purchasing power Management Tax
Major types Auditing Cost Forensic Financial Fund Governmental Management Social Tax
Key concepts Accounting period Accrual Constant purchasing power Economic entity Fair value Going concern Historical cost Matching principle Materiality Revenue recognition Unit of account
Selected accounts Assets Cash Cost of goods sold Depreciation / Amortization Equity Expenses Goodwill Liabilities Profit Revenue
Accounting standards Generally-accepted principles Generally-accepted auditing standards Convergence International Financial Reporting Standards International Standards on Auditing Management Accounting Principles
Financial statements Annual report Balance sheet Cash-flow Equity Income Management discussion Notes to the financial statements
Bookkeeping Bank reconciliation Debits and credits Double-entry system FIFO and LIFO Journal Ledger / General ledger T accounts Trial balance
Auditing Financial Internal Firms Report
People and organizations Accountants Accounting organizations Luca Pacioli
Development History Research Positive accounting Sarbanes–Oxley Act
Business portal

IAS 39: Financial Instruments: Recognition and Measurement is an international accounting standard for financial instruments released by the International Accounting Standards Board (IASB). It was replaced in 2014 by IFRS 9, which becomes effective in 2018.

It was adopted by the European Union in 2004.^[1]

In 2005, the EU also introduced the fair value and hedging provision of the amended version of IAS 39.^[2]^[3]

The EU version was changed at the end of 2008 in response to the financial crisis of 2008.^[4] The comparative accounting measures in the United States are FAS 133 and FAS 157. The Financial Accounting Standards Board (FASB) released a 'FASB Staff Position' statement in October, 2008, in response to the financial crisis.^[5]

References

↑ "Accounting standards: Commission endorses IAS 39". European Commission. 2004-11-19. Retrieved 2008-10-12.
↑ "EU adopts new accounting rules for financial derivatives". Forbes. 2005-11-15. Retrieved 2008-10-12.
↑ "Accounting standards: Commission endorses "IAS 39 Fair Value Option"". European Commission. 2005-11-15. Retrieved 2008-10-12.
↑ "EU executive to ease fair value on banks". Reuters. 2008-10-10. Retrieved 2008-10-12.
↑ "FASB Staff Position No. 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active" (PDF). Financial Accounting Standards Board. 2008-10-10. Retrieved 2008-10-12.

External links

Technical Summary of IAS 39 ifrs.org LIEN MORT
Education Material and Services by Standard - IAS 39 iasb.org LIEN MORT
Fair Value Measurement iasb.org LIEN MORT
www.iasplus.com/standard/ias39.htm Summary of the IAS39 by Deloitte

International Financial Reporting Standards and Related Accounting Organizations

Organizations

Predecessors

International Accounting Standards Committee

Selected standards

IFRS	1 2 4 5 9 10 11 12 13 15 16 17 (upcoming)

IAS	1 2 7 8 10 16 17 19 37 39

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