IAS 39: Financial Instruments: Recognition and Measurement was an international accounting standard which outlined the requirements for the recognition and measurement of

financial asset A financial asset is a non-physical asset whose value is derived from a contractual claim, such as deposit (finance), bank deposits, bond (finance), bonds, and participations in companies' share capital. Financial assets are usually more market li ...

s, financial liabilities, and some contracts to buy or sell non-financial items. It was released by the

International Accounting Standards Board The International Accounting Standards Board (IASB) is the independent accounting standard-setting body of the IFRS Foundation. The IASB was founded on April 1, 2001, as the successor to the International Accounting Standards Committee (IASC). ...

(IASB) in 2003, and was replaced in 2014 by IFRS 9, which became effective in 2018. It was adopted by the European Union in 2004. In 2005, the EU also introduced the

fair value In accounting, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset. The derivation takes into account such objective factors as the costs associated with production or replacement, market c ...

and hedging provision of the amended version of IAS 39. The EU version was changed at the end of 2008 in response to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. The comparative accounting measures in the United States are FAS 133 and FAS 157. The

Financial Accounting Standards Board The Financial Accounting Standards Board (FASB) is a private standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Secur ...

(FASB) released a 'FASB Staff Position' statement in October 2008, in response to the

References

External links

Technical Summary of IAS 39
ifrs.org LIEN MORT
text of standard
- ifrs.org (registration required)

iasb.org LIEN MORT - LINK DEAD

iasb.org LIEN MORT - LINK DEAD

Summary of the IAS39 by Deloitte {{International Financial Reporting Standards International Financial Reporting Standards Derivatives (finance) Credit risk