CONTENTS

COMPILATION DETAILS

Comparison With IAS 39

Accounting Standard

AASB 139 Financial Instruments: Recognition and Measurement

Paragraphs

Application Aus1.1 – Aus1.5

Scope 2 – 2A

Definitions 8 – 9

Hedging 71

Hedging Instruments

Qualifying Instruments 72 – 73

Designation of Hedging Instruments 74 – 77

Hedged Items

Qualifying Items 78 – 80

Designation of Financial Items as Hedged Items 81 – 81A

Designation of Non-Financial Items as Hedged Items 82

Designation of Groups of Items as Hedged Items 83 – 84

Hedge Accounting 85 – 88

Fair Value Hedges 89 – 94

Cash Flow Hedges 95 – 101

Hedges of a Net Investment 102

Effective Date and Transition 103K – 108D

Appendix A:

Application Guidance

Definitions

Effective Interest Rate AG8A – AG8C

Hedging

Hedging Instruments

Qualifying Instruments AG94 – AG97

Hedged Items

Qualifying Items AG98 – AG99F

Designation of Non-Financial Items as Hedged Items AG100

Designation of Groups of Items as Hedged Items AG101

Hedge Accounting AG102 – AG104

Assessing Hedge Effectiveness AG105 – AG113A

Fair Value Hedge Accounting for a Portfolio Hedge of Interest Rate Risk AG114 – AG132

Transition AG133

ILLUSTRATIVE EXAMPLE Page 33

DELETED IAS 39 TEXT Page 40

IMPLEMENTATION GUIDANCE
(available on the AASB website)

BASIS FOR CONCLUSIONS ON IAS 39
(available on the AASB website)

Australian Accounting Standard AASB 139 Financial Instruments: Recognition and Measurement (as amended) is set out in paragraphs Aus1.1 – 108D and Appendix A. All the paragraphs have equal authority. Terms defined in this Standard are in italics the first time they appear in the Standard. AASB 139 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.