Hedge Accounting_en

AL-Azhar University in Gaza

Business Faculty

Accounting Department

Level " 4 "

Hedge Accounting Past & Future

(Review of IAS 39 , FAS 133 and the new joint project)

Prepared by :

Maysa Ata Darwish

Supervised by :

Dr Emad Abu-Shaaban

A research submitted in partial fulfillment of the requirement of obtaining the bachelor degree of commerce , Accounting Major

May 22, 2010

Table of Content

Preface

Part 1 : Project overview

• Introduction
• Project Objective
• History of the project
• FASB and IASB Outreach Summary (as of November 2009)
• Where are they now?
• Next Steps/Project Plan

Part 2 : Overview of related literature (IAS 39 , FAS 133)

Introduction

• FAS 133 : Summary of FAS 133

A Critical View

• IAS 39 : History of IAS 39

Summary of IAS 39

• Differences between IAS 39 and FAS 133

Part 3 : Accounting of hedge activities "phase 3"

• Introduction
• Project objective (phase 3)
• Background of the project (phase 3)
• Project Summary (phase 3)
• Summary of Main amendment
• Hedged Risk (issue 1,2)
• Hedge Effectiveness ( issue 3,4,5,6)
  • Presentation of Hedging Gains and Losses (issue 7,8)
• Detailed amendment
• Hedge Effectiveness Requirements
• Reasonably Effective Criteria
• Dedesignation of Hedging Relationship
• Hedged Risk
• Measurement of Hedged Items in Fair Value Hedging Relationships
• Measuring and Reporting Ineffectiveness in Cash Flow Hedging Relationships
• Disclosures

Part 4 : Reasons for amendment , Costs and benefits

• Introduction
• Reasons for amendments
• Cost and Benefits of applying new amendment
• Alternative view

Part 5 : Research questions & Recommendations

• Introduction
• Research questions
• Recommendations
• Conclusion

Appendices

References