Happy hedging!

New Year’s Day 2009 brings with it some welcome festive cheer for those facing accounting upheaval in the wake of IASB’s decision to clarify the boundaries of hedge accounting under IAS 39, its derivatives accounting standard, writes Stephen Bouvier.

Stephen Bouvier (stephenbna@mac.com)

Introduction

The publication on 31 July this year of an amendment to International Accounting Standard 39, Financial Instruments: Recognition and Measurement, by International Accounting Standards Board has by and large passed off unnoticed.