IAS 39 Financial Instruments: Recognition and Measurement
Measurement and hedging
Under existing UK requirements, financial instruments are generally carried at amortised cost - less impairment provisions in the case of financial assets - although some entities mark-to-market trading books with changes in value recognised in the profit and loss account. IAS 39 requires specific measurement bases to be applied to different categories of financial instrument, which would require a number of significant changes to existing UK practice.
Under IAS 39, all derivatives, and nonderivative financial instruments held for trading purposes, must be measured at fair value with changes in value recognised in the profit and loss account. This also applies to certain derivative-like features - including some prepayment options or settlement options - that are incorporated into a non-derivative contract, which must be separated from the main contract and accounted for as a derivative. IAS 39......

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Title: Ias 39
Approximate Word Count: 927
Approximate Pages: 4 (250 words per double-spaced page)

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