Quoted companies are required to apply IFRS for the purposes of

their consolidated financial statements with effect from

1 January 2005. The standards dealing with financial instruments

- IAS 32, IAS 39 and IFRS 7 - are complex ones because they

introduce concepts such as hedge accounting, embedded

derivatives or fair value which amount to a sea change in the

basis of financial reporting. Additional issues are the implications

of the standards for the volatility of reported financial performance and the

financial statement disclosure requirements.

Based on the author's practical experience with Société Générale Corporate &

Investment Banking, this book is designed to provide the critical keys to an

understanding of the basis of accounting for financial instruments in accordance

with IFRS.

The book meets the requirements of all business sectors including banking and

insurance. It provides both a technical introduction and an operational

approach to the main types of financial instruments covered by IAS 32, IAS 39

and IFRS 7, and is illustrated by more than 30 examples and 10 case studies

designed to facilitate assimilation of each technical difficulty introduced.

The book is the work of a financial practitioner and will be of use to finance

directors and chief accountants, auditors, financial market operators, financial

analysts, tax practitioners, lawyers, lecturers and students.