Finansielle Instrumenter: Fra IAS 39 til IFRS 9 - indregning, måling og hedge accounting

Peter Østergaard

Studenteropgave: HD-afhandlinger


This thesis paper aims to describe and analyze the changes in accounting standards IAS 39 to IFRS 9 regarding financial instruments. The new standard, IFRS 9, was approved in its current form in July of 2014, and is mandatory to implement from January 1, 2018. The first part of the paper outlines the specifics of annual statements, the information they need to provide and it seeks to create an overview of requirements that will create a basis for analyzing the changes from IAS 39 to IFRS 9. The following chapter will create the basic definitions of financial instruments and provide examples of two of these, options and futures. For the changes from IAS 39 to IFRS 9, this paper focuses on classification and measurement as well as hedge accounting. Classification and measurement are the main rules for accounting for financial instruments whereas hedge accounting is an option companies can use if they choose to. In the wake of the financial crisis, preparers as well as users of financial statements started asking for new and improved standards for financial instruments. In the years leading up to the crisis, the use of financial instruments had increased significantly. This turned out to be an issue, as the complexity of the financial instruments increased to levels where the current accounting standards were less useful. The process of creating the new standard started in 2008 when IASB published a discussion paper on IAS 39. This discussion paper contained multiple issues with the current standard, as well as provided solutions to these issues. The main goal was to decrease the many rules for financial instruments, and thereby simplifying the accounting process. ISAB successfully took the six different categories from IAS 39 and created only two different categories. In IFRS 9, the accounting for financial instruments is related to the companies’ own use of the financial instruments. In this way, the business model decides how the company should do the accounting. In this way, companies have more options to take advantage of the full financial market. This comes to show, if a company sells off a part of a portfolio of loans, which before would be categorized as held-tomaturity and now would have to be accounted for as financial instruments held for sale. This could create significant changes in the accounting, which would be a disadvantage to the company. Now companies can keep the portfolio at amortized cost, even though they sell of part of it. This is a simplification of the standard, which was the point of the move from IAS 39 to IFRS 9. The new hedging standard is considered an option for companies using financial instruments. It allows companies to show their risk management strategies in the financial statements more clearly than IAS 4 39. The main changes appear in the form of removing the 80-125% test of effectiveness. Companies are now required to show an economic relationship between the hedge item and the hedging instrument. Besides that, they are subject to limitations as to whom they are allowed to enter into financial contracts with, since opposing parts are not allowed to create an elevated credit risk to pricing of the financial instruments. The new standard lives up to the expectations in the way it simplifies the general requirements, as well as it allows companies to show their purpose for using financial instruments. The analyzing part of the paper will focus on the changes in accounting for the use of options and forward contracts, the financial instruments picked as the focus. Furthermore, the accounting for these will be through hedge accounting, since that is a common way to use these. Furthermore, the paper shows how one C20 company, Coloplast A/S, uses hedge accounting, and then it tries to show the changes that will happen with the new standard.

UddannelserHD Regnskab og Økonomistyring, (HD uddannelse) Afsluttende afhandling
Antal sider84