Le magazine du trésorier - n°76 - 4ème trimestre 2011 - (Page 10)

Time to change your hedging strategy FOCUS he long awaited Hedge Accounting exposure draft was issued by the IASB in December 2010, with an effective date for accounting periods beginning on or after 1 January 2015. In a recent PwC Belgium survey on the IFRS 9 implementation, we noted that only 17% of the respondents were fully aware of the proposed changes. In the below article, we would like to get you introduced further to this topic. Chart 1 T tion of the current hedge accounting requirements in IAS 39 rather than merely a few minor changes. This reflects that the rules on hedge accounting in IAS 39 have frustrated many preparers, as the requirements have not been well linked with common risk management practices. The detailed rules have at times made achieving hedge accounting impossible or very costly, even when the respondents. They noted the below five reasons as the main reasons for currently not applying hedge accounting under IAS 39 (see chart 2). OBJECTIVE AND SCOPE OF THE EXPOSURE DRAFT The exposure draft seeks to improve the decision usefulness of the financial statements by better aligning hedge accounting with the risk management activities of an entity. The proposals in the exposure draft aim to address many of the issues that have frustrated corporate treasurers. In doing so, they propose some fundamental changes to the present requirements by removing or amending many of the prohibitions and rules within IAS 39. The exposure draft covers the hedging of both financial and non-financial items. Currently only static group hedging is covered, the exposure draft on macro hedging is expected in the first half of 2012. Are you familiar with the proposed changes to IAS 39 on hedge accounting? Yes, I'm fully aware No, I'm not aware at all I'm somewhat aware 44% WHAT IS THE ISSUE? What the outreach told the IASB, was that users and preparers alike wanted a fundamental reconsidera- hedge has been an economically rational risk management strategy. In our survey, we have equally noted these frustrations within the group of 10

Table des matières de la publication Le magazine du trésorier - n°76 - 4ème trimestre 2011

Sommaire
EDITORIAL - Over and over and over again
FINANCIAL HIGHLIGHTS
INTERVIEW - Jean-Louis Bertrand, Co-fondateur de METEO PROTECT
FOCUS
FORUM OF ADVERTISERS
CORPORATE FINANCE
TREASURERS' ASSOCIATIONS
NEWS

Le magazine du trésorier - n°76 - 4ème trimestre 2011

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