Resumo

QUINTERO-CARVAJAL, Dora Patricia. Forward on the Representative Market Exchange Rate: Initial and Subsequent Measurement in the Light of International Standards. Cuad. Contab. [online]. 2014, vol.15, n.37, pp.55-76. ISSN 0123-1472.

Every day company management comes with increased risks. One of these is the market risk, inherent to a possible change in the market variables since it changes the value of an asset. This risk may be reduced with tools such as the financial derivatives. Financial derivatives account for one of the great advancements of financial economy because they allow ensuring future prices on those markets that show volatility and counteracting the risk of price variation. With these benefits in mind, companies have increased the use of these products, aiming to counteract this risk. Starting with Law 1314, 2009, Colombia undertakes accounting adjustments aiming at achieving convergence with the international accounting standards, which includes an initial and subsequent record of the financial instruments. Thus, it is necessary to gain deeper insight into the accounting record of the financial derivatives as a financial instrument, from international standards. The aim of this document is to describe, from the point of view of the international accounting standards, the accounting practice of the forward financial derivative on foreign currency, in the light of the international standards.

Palavras-chave : IFRS; financial derivative; forward; IFRS application; international accounting standards; derivative securities; forwards; NIIF.

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