The Financial Reporting of Derivatives and Other Financial Instruments: A Study of the Implementation and Disclosures of FRS 13 - Softcover

Dunne, Theresa; Helliar, Christine; Mallin, Chris

Softcover

ISBN 10: 1841521590 ISBN 13: 9781841521596

Publisher: Institute of Chartered Accountants in England & Wales, 2003

Synopsis

During the 1990s regulators and investors had become concerned that companies were using complex financial instruments without disclosing the effect that these derivatives were having upon the risk profile of organisations. The increasing number of scandals that highlighted the improper use of options, forwards, futures and swaps persuaded regulators around the world to publish Financial Reporting Standards that increased the disclosure by firms about their derivatives activity; these standards aimed to make Financial Statements more transparent. In the US, the FASB issued FAS 133. Internationally, the IASB has issued IAS 39, and int he UK Financial Reporting Standard 13 "Derivatives and other Financial Instruments: Disclosures" became mandatory for accounting periods ending March 1999 onwards. This report investigates the implementation of FRS 13 by UK companies, and assesses the impact of the Standard on both users and preparers of annual reports. The report has five separate themes and each form a different chapter.

Edition details

• Publisher: Institute of Chartered Accountants in England & Wales
• Publication date: 2003
• Language: English
• ISBN 10: 1841521590
• ISBN 13: 9781841521596
• Binding: Spiral-bound
• Number of pages: 170