Derivatives and Hedge Accounting under IFRS: Towards a (Mis)understanding of Risks? (notice n° 711860)
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|---|---|
| fixed length control field | 02351cam a2200253 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250122174954.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Foulquier, Philippe |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Derivatives and Hedge Accounting under IFRS: Towards a (Mis)understanding of Risks? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2008.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 93 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Derivatives have become more and more sophisticated since the early 1990s. They represent a large portion of the balance sheet today. It has become very important to know the exposure of firms both for the purpose of firm management and for stakeholders and market actors (rating agencies, financial analysts, shareholders, and so on). New international accounting standards have emerged to satisfy the need for more transparency. The primary purpose is to guarantee a true and fair view of the balance sheet of every firm in order to encourage them to implement a better management of risks. We show that solutions offered by IFRS (including hedge accounting) go against this objective because of an excessive volatility of earnings. Furthermore, this volatility is disconnected from the real exposure of firms. Equally, our analysis deals with the impact of accounting choices made by the IASB concerning the accounting of hedge positions, the perception of risks across financial statements, and consequences for financial management. We review academic and empirical papers and highlight three issues. First, research proves that accounting volatility (earning variability)-although not correlated with economic volatility and thus the risk exposure of the firm-seems to change the perception of risk. Secondly, the artificial increase of risk has an impact on firms- behavior. Lastly, the financial management consequences of the IAS 39 are not optimal from a finance point of view, and are in contradiction with the IASB-s objectives. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | IFRS |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | volatility |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | structured products |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | hedge accounting |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | fair value |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | derivatives |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | financial instruments financiers |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Touron, Philippe |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Accounting Auditing Control | Volume 14 | 3 | 2008-12-01 | p. 7-38 | 1262-2788 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-accounting-auditing-control-2008-3-page-7?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-accounting-auditing-control-2008-3-page-7?lang=en&redirect-ssocas=7080</a> |
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