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IAS 39: Financial instruments: Recognition and measurement

The accounting standard IAS 39 sets out the principles for recognising and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

What's on this page?

  • Full-text standard
  • Summaries
  • Guidance and support from ICAEW
  • Example accounts
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

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Full text standard

Unaccompanied version of IAS 39
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.

This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.


IAS 39 – Financial Instruments: Recognition and Measurement
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

Example accounts

IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires collected by the ICAEW Library.

Best practice

Company Reporting (Croner-i)
The ICAEW Library can provide examples of real-life company reports to help keep you up-to-date with reporting practices and benchmark your financial reporting compliance. As well as extracts from reports filed by all major public companies, Company Reporting also offers weekly CR Monitor Reports detailing changes to reporting practice and a broader monthly CR Review.

Contact us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com to get any documents from Company Reporting.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

IFRS 2018: Interpretation and application of IFRS standards
PKF (2018)
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on financial instruments covers:

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

IASB news

Date Update
5 January 2021 UK-adoption of Amendments for IBOR Phase 2 and Amendments to IFRS 4
The Interest Rate Benchmark Reform—Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) was adopted for use in the UK and is effective for annual periods beginning on or after 1 January 2021. 
27 August 2020 ASB completes response to IBOR reform with amendments to IFRS Standards
These amendments complement those issued in 2019 and focus on changes to contractual cash flows, hedge accounting, and disclosures. Interest Rate Benchmark Reform - Phase 2 amends IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16.
26 September 2019 IASB amends IFRS Standards in response to the IBOR reform
News update issued by the IASB on 26 September 2019 announcing amendments to some of its requirements for hedge accounting within IFRS 9, IAS 39 and IFRS 7.
24 July 2014 IASB completes reform of financial instruments accounting
Press release issued by the IASB on 24 July 2014 announcing the publication of IFRS 9 Financial Instruments, which will replace requirements within IAS 39 covering classification and measurement, impairment, hedge accounting and derecognition.
27 June 2013 IASB provides relief for novation of derivatives
Press release issued by the IASB on 27 June 2013 announcing publication of narrow-scope amendments to IAS 39.
11 May 2010 IASB addresses ‘counter-intuitive’ effects of fair value measurement of financial liabilities
Press release issued by the IASB on 11 May 2010 announcing the publication of its exposure draft Fair Value Option For Financial Liabilities.

Guides and publications

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

IFRS 9: Financial Instruments (replacement of IAS 39)
IASB project summary outlining the three phases of the project with links to relevant documents.

What investment professionals say about financial instrument reporting
Survey of investors and analysts views on accounting and reporting for financial instruments, published by PwC in June 2010.

Financial instruments under IFRS: A guide through the maze
Guide published by PwC in June 2009 which provides a broad overview of the current requirements of IAS 32, IAS 39 and IFRS 7.

Basel Committee review of international accounting standards
Report from the Basel Committee on Banking Supervision published in April 2000 reviewing International Accounting Standards of importance for banks, with a special focus on IAS 30 and IAS 39.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports through our document supply service.

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