Disclosures
An overview of the financial accounting standards for financial instruments and derivatives disclosures are outlined below for companies that follow International, US, or Canadian accounting standards. For a more complete and detailed description of each standard, it is recommended to visit the respective issuer's website.
| IFRS 7 | FAS 161 | CICA 3862 | |
| Title | Financial Instruments: Disclosures | Disclosures about Derivatives and Hedging | Financial Instruments – Disclosures |
| Issuer | International Accounting Standards Board (IASB) | Financial Accounting Standards Board (FASB) | Canadian Institute of Chartered Accountants (CICA) |
| Region | International | USA | Canada |
| Effective | January 1, 2007 | November 15, 2008 | October 1, 2007 |
| Overview | IFRS 7 is intended to enhance the disclosure of risks arising from financial instruments and provide greater transparency regarding the monitoring of measurement and management of financial risk. Some key areas:
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FAS 161 requires enhanced disclosures about an entity’s derivative and hedging activities, thereby improving the transparency of financial reporting. Specifically:
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The disclosure requirements of CICA Section 3862 and IFRS 7 are similar (i.e. they are converged), except in a few circumstances. CICA Section 3862 requires more specific disclosures about hedging transactions. |
| How FINCAD can help | FINCAD solutions can be used to help assess market risk, providing the tools for sensitivity analysis and providing industry-standard analytics with full documentation built into each product. Furthermore, all FINCAD solutions can easily be integrated with observable market data sources. Applicable FINCAD solutions:
Click here to request a trial of one of the above solutions. |
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We hope that such information will assist you, but it should not be used or relied upon as a substitute for your own independent research. For a more comprehensive view of the standards/requirements, please visit the respective issuer's website.

