Accounting for derivatives : advanced hedging under IFRS
Ramirez, Juan, 1961-
Widely regarded as the most complicated standard ever issued to date, IAS 39 'hedge accounting' is a special accounting treatment that reduces the earningsvolatility impact of derivatives. The ...implementation of hedge accounting is very complex even for simple hedging strategies. Most of the scarce literature on hedge accounting has been written by academic professors or by accounting firms, as a result their emphasis lacks a practical angle. This book shares the insights of the author's day-to-day experience advising companies on how to minimize the earnings volatility impact of hedging with derivatives. The book is case driven and each case analyses in detail a real-life hedging strategy. The book is organized into nine chapters. Chapter 1 presents a summary of IAS 39. Chapter two introduces the most common hedging instruments from a IAS 39 perspective. Chapter 3 examines the hedge of FX risk caused by import/export transactions. Chapter 4 draws together the FX hedge of dividends, earnings and net assets of foreign subsidiaries. Chapter 5 discusses the interest rate hedge of domestic liabilities & chapter 6 analyzes the hedge of foreign currency denominated liabilities. Chapter 7 covers the hedge of commodity risk & chapter 9 challenges the qualification for hedge accounting as the ultimate objective. Chapters 3-7 are based on the extensive use of cases. Each case simulates a specific hedging strategy from its inception until its maturity following a common pattern. First, the transaction that generates the risk exposure and achosen hedging strategy are described. Second, the hedge qualification for hedge accounting is optimized and its documentation is produced. Third, certain behaviour of the financial market is assumed and the prospective and retrospective tests are performed. Fourth, the accounting entries related to the transaction are produced. Finally, the concluding remarks are outlined. The hedging instruments covered vary from forwards, swaps, cross-currency swaps, and combinations of standard options. The book also deals with more complex derivatives such as knock-in forwards, KIKO forwards, range accruals and swaps in arrears.
Type of material - book
Publication and manufacture - Chichester [etc.] : J. Wiley, cop. 2007
· Prosti p. I1 RAMIREZ J. Accounting for IN: 000227609
· Prosti p. I1 RAMIREZ J. Accounting for IN: 000227609
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