IAS 39: Financial Instruments: Recognition and Measurement is a measure of instrument of the International Accounting Standards Board

International Accounting Standards Board

The International Accounting Standards Board is an independent, privately funded accounting standard-setter based in London, England.The IASB was founded on April 1, 2001 as the successor to the International Accounting Standards Committee...

(IASB).

It was adopted by the European Union in 2004. In 2005, the EU also introduced the fair value

Fair value

Fair value, also called fair price , is a concept used in accounting and economics, defined as a rational and unbiased estimate of the potential market price of a good, service, or asset, taking into account such objective factors as:* acquisition/production/distribution costs, replacement costs,...

 and hedging provision of the amended version of IAS 39. The EU version is set to be changed at the end of 2008 in response to the financial crisis of 2008. The comparative accounting measures in the United States are FAS 133 and FAS 157. The Financial Accounting Standards Board

Financial Accounting Standards Board

The Financial Accounting Standards Board is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles within the United States in the public's interest...

(FASB) released a 'FASB Staff Position' statement in October, 2008, in response to the financial crisis.

External links

• Technical Summary of IAS 39 ifrs.org
• Education Material and Services by Standard - IAS 39 iasb.org
• Fair Value Measurement iasb.org
• www.iasplus.com/standard/ias39.htm Summary of the IAS39 by Deloitte