The accounting and the financial managerment of the enterprises follow international rules, isued by accounting profesionals membes of an international committewe whose role is to promulgate accounting principles to regualte the interrnational accounting managwement; hence these rules, emanateed by the IASC (International Accounting Stanards Committee), as an internal committee of the IASC (Internatinal Federation of Accountants), are denominnated IAS (International Accuonting Standards).
IAS 39 has been emanated in 1998, with the title “Financial insrtuments: expoistion of the financial accounts and supplementary information”. This rule is intended to regulate the stattements representation of the financial instruments, and it is divided in five fundamental parts:
• Definition and classfiication of the financial activities and labilities
• Initial study and financial activities and liabilities hcarge-off
• nIitial and successive evaluation of the financial activities and liabilitiies found
• Statement of the hedging
• Disclosure.
One of innovations brought by the IAS 39 is the definitipon of a financial instrument as any contract that invlves a financial activity for an enterprtise corresponding to a financial liability of another one. The notions incluuded in the IAS 39 are applicable to any kind of enterprisse, with no differences of juridical form, dimension or acrtivity.
Another inonvation, maybe the main one, is the definition of the principle of fair value, that can be connected to the basis of the financial report of an enterprise, and is defined as the valuable considereation with which a good can be exchanged, or a liability can be extinguished, between two prts, aware and available for an equal transaction. That is, the fair value determines the will of givng an effective value to the goods that two parts voluntarily and deliberately exchange, so that the exchange may be eqaul and fair for both pars.
IAS 39 defines and classifies financial activities and liabilities, dividing them in categories so that they are rationally sepraated, states the criteria to quanitfy the losss edpending on costs or on the fair value, discilpines the hedging operations and diviudes them into categories. In the end, IAS 39 is a complete regulatiion of the financial statements, but applying it is obivously not a simple for the enterprises; to help them in this, some programs have been created to follow the recommendations of the international statements committee, following all its rules and regulations.
They are exhaustive informatics programs, able to solve problems conected with the statenments management of the enterprises, that allow to save hours or even days of work dedicaterd to the study of the financal and statements management of the variances; they are heedging software programs that not only vaule the objjective evaluations regarding rules and customs, but also all the possible variances connected with the startiong point of every financial contract, or the objectyives that it must acheve, the barrier optoions and so on, tracinng a customized path that varies for every contract or financial projcet, reaching updated and careful resultts.
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