IAS 39

IAS 39: Financial Instruments: Recognition and Measurement was an international accounting standard which outlined the requirements for the recognition and measurement of financial assets, financial liabilities, and some contracts to buy or sell non-financial items. It was released by the International Accounting Standards Board (IASB) in 2003, and was replaced in 2014 by IFRS 9, which became effective in 2018.

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It was adopted by the European Union in 2004.[1]

In 2005, the EU also introduced the fair value and hedging provision of the amended version of IAS 39.[2][3]

The EU version was changed at the end of 2008 in response to the financial crisis of 2008.[4] The comparative accounting measures in the United States are FAS 133 and FAS 157. The Financial Accounting Standards Board (FASB) released a 'FASB Staff Position' statement in October, 2008, in response to the financial crisis.[5]