International Financial Reporting Standards: Derivative Accounting Considerations for Energy Transacting Activities
IAS 32/39 and IFRS 7
The advent of International Financial Reporting Standards (IFRS) promises to bring a number of significant accounting changes for power and utilities companies, not the least of which will be changes to accounting for financial instruments and, more specifically, derivative contracts.
This paper provides a summary of the relevant IFRS accounting standards and addresses some of the more common accounting issues facing companies with significant energy transacting activities.
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