الأدوات المالية (مفهىمها، وكيفية الاعتراف بها والإفصاح عنها في القوائم المالية)

Abstract

The focus of this study is on the concept of both types of financial instruments، the classic type (shares and bonds)، and the modern types (financial derivatives). The study also sheds light on the recognition and disclosure of these instruments in the financial statements. This study aims to knowing the nature of these instruments and their recent problems and the way of investing in them as well as their recognition and disclosure in the financial statements according to International Accounting Standards IASs. This study employed the conductive approach and the logical verification and reasoning through the financial instruments literature review. This study reveals the following results: 1. The apparent development of stock market in terms of financial instruments and the prevailing phenomenon of financial derivatives (derived financial instruments). 2. The concept of any financial instrument is dependent on the nature of the instrument but not on its legal form. 3. Dealing with derived financial instruments is to overcome risks that may occur when dealing with classic financial instruments. 4. There is an increasing concern، from professional organisations and institutions which are responsible for regulating the accounting profession، about the derived financial instruments. This is evident through the InternationalAccounting Standard 32 which is related to financial instruments. 5. The core nature of financial instruments is the basis on which they are classified in the balance sheet، but not on the basis of legal form of these instruments. 6. The purpose of financial instruments disclosure is to provide information that may help financial statements users in risk assessment. Risks which may be related to financial instruments and managerial policies. 7. Companies can provide additional disclosures about financial instruments as endnotes (out of balance sheet)، if companies believe this would help increase the ability of financial statements users understanding of financial instruments. This study provides some important recommendations for those who deal with financial instruments: 1. The importance of internal system existence، that allows the measurement of risk volume and making the necessary provisions to covering risks، if occurred. Setting suitable control rules such as setting a maximum limit for companies transactions volume in terms of derivatives.