Issues arising with the implementation of AASB 139 financial instruments: recognition and measurement by Australian firms in the gold industry
- Publication Type:
- Conference Proceeding
- 2008 AFAANZ/IAAER Conference website papers, 2008, pp. 1 - 23
- Issue Date:
This paper investigates the impact of AASB139: Financial Instruments, Recognition and Measurement on the financial reporting of Australian firms in the gold industry. At issue is whether firms are able to comply with the exacting requirements contained in AASB 139 for hedge accounting and how this impacts firms financial reports. Evidence is provided of hedging activities being restricted to larger firms, and for these firms only the larger firms were able to comply with the requirements of AASB 139 to account for these firms as cash flow hedges. Furthermore there is evidence that the income numbers for firms unable to account for their hedging activities as cash flow hedges having less relevance.
Please use this identifier to cite or link to this item: