subject: Ias 39 And The Financial Evaluation Software [print this page] The accounting and the financial management of the enterprises follow international rules, issued by accounting professionals members of an international committee whose role is to promulgate accounting principles to regulate the international accounting management; hence these rules, emanated by the IASC (International Accounting Standards Committee), as an internal committee of the IASC (International Federation of Accountants), are denominated IAS (International Accounting Standards).
IAS 39 has been emanated in 1998, with the title Financial instruments: exposition of the financial accounts and supplementary information. This rule is intended to regulate the statements representation of the financial instruments, and it is divided in five fundamental parts:
Definition and classification of the financial activities and liabilities
Initial study and financial activities and liabilities charge-off
Initial and successive evaluation of the financial activities and liabilities found
Statement of the hedging
Disclosure.
One of innovations brought by the IAS 39 is the definition of a financial instrument as any contract that involves a financial activity for an enterprise corresponding to a financial liability of another one. The notions included in the IAS 39 are applicable to any kind of enterprise, with no differences of juridical form, dimension or activity.
Another innovation, maybe the main one, is the definition of the principle of fair value, that can be connected to the basis of the financial report of an enterprise, and is defined as the valuable consideration with which a good can be exchanged, or a liability can be extinguished, between two parts, aware and available for an equal transaction. That is, the fair value determines the will of giving an effective value to the goods that two parts voluntarily and deliberately exchange, so that the exchange may be equal and fair for both parts.
IAS 39 defines and classifies financial activities and liabilities, dividing them in categories so that they are rationally separated, states the criteria to quantify the losses depending on costs or on the fair value, disciplines the hedging operations and divides them into categories. In the end, IAS 39 is a complete regulation of the financial statements, but applying it is obviously not a simple for the enterprises; to help them in this, some programs have been created to follow the recommendations of the international statements committee, following all its rules and regulations.
They are exhaustive informatics programs, able to solve problems connected with the statements management of the enterprises, that allow to save hours or even days of work dedicated to the study of the financial and statements management of the variances; they are hedging software programs that not only value the objective evaluations regarding rules and customs, but also all the possible variances connected with the starting point of every financial contract, or the objectives that it must achieve, the barrier options and so on, tracing a customized path that varies for every contract or financial project, reaching updated and careful results.
