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Implications for the Conceptual Framework Arising From Accounting for Financial Instruments

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  • Michael E. Bradbury

Abstract

This article describes some of the issues faced by standard setters in developing guidance on accounting for financial instruments and the implications these issues have for the conceptual framework (CF). The objective is to outline issues, not necessarily to resolve them, and to consider the implications they have for further developing the conceptual framework. Given the current trend of harmonization and convergence of accounting practice towards international standards, it seems reasonable to assume that any policy implications will be most relevant to the CF inherited by the International Accounting Standards Board (IASB).1 Unless otherwise stated, references will be made to International Accounting Standards (IAS).

Suggested Citation

  • Michael E. Bradbury, 2003. "Implications for the Conceptual Framework Arising From Accounting for Financial Instruments," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 388-397, October.
    • Handle: RePEc:bla:abacus:v:39:y:2003:i:3:p:388-397
    DOI: 10.1111/j.1467-6281.2003.00140.x
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    References listed on IDEAS

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    1. Michael J. Mumford, 2000. "Lessons for Accounting Measurement from Transaction Cost Economics," Australian Accounting Review, CPA Australia, vol. 10(21), pages 51-57, July.
    2. Joanne Horton & Richard Macve, 2000. "‘Fair Value’ for Financial Instruments: How Erasing Theory is Leading to Unworkable Global Accounting Standards for Performance Reporting," Australian Accounting Review, CPA Australia, vol. 10(21), pages 26-39, July.
    3. Malcolm C. Miller & Janice A. Loftus, 2000. "Measurement Entering the 21st Century: A Clear or Blocked Road Ahead?," Australian Accounting Review, CPA Australia, vol. 10(21), pages 4-18, July.
    4. Neil Fargher, 2001. "Management Perceptions of Fair-Value Accounting for all Financial Instruments," Australian Accounting Review, CPA Australia, vol. 11(24), pages 62-72, July.
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    Cited by:

    1. Graeme W. Dean & Frank L. Clarke, 2003. "An Evolving Conceptual Framework?," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 279-297, October.
    2. Neil Fargher & Baljit K. Sidhu & Ann Tarca & Warrick van Zyl, 2019. "Accounting for financial instruments with characteristics of debt and equity: finding a way forward," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(1), pages 7-58, March.
    3. Janice A. Loftus, 2003. "The CF and Accounting Standards: The Persistence of Discrepancies," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 298-309, October.
    4. Bischof, Jannis & Ebert, Michael, 2007. "Inconsistent measurement and disclosure of non-contingent financial derivatives under IFRS : a behavioral perspective," Papers 07-02, Sonderforschungsbreich 504.

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