The importance of financial reporting of financial derivatives as instruments to hedge their banking risks in accordance with international accounting standards | ||
| Journal of Administration and Economics | ||
| Article 1, Volume 0, Issue 101, September 2018, Pages 221-239 | ||
| Authors | ||
| Prof. Ali Hussein Aldogji; MM Abbas Fadhil Ugaili | ||
| Abstract | ||
| The study focused on accounting for financial risks faced by banks because they are exposed to a high level of risk as a result of their great utilization of financial instruments, which may make them liable to insolvency or bankruptcy and collapse, and accordingly to major economic crises. Therefore, banks are required to manage (reduce) risks so as to evade them. Due to Iraqi banks inaction to properly manage these risks, as well as lack of both the standard accounting system for banks and the Iraqi accounting criterion (standard) No. 10 to an obvious methodology for these risks identification, classification, hedging and disclosure, the researcher was prompted to concentrate on this problem to be solved. Consequently, the study aims to shows importance of financial reporting for financial derivatives as instruments to hedge against banking risks according to the international accounting standards. | ||
| Keywords | ||
| Department of Accounting | ||
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