Accounting standards for transactions with derivative instruments: empirical evidence in the Portuguese capital market

Kátia Matos Lemos, Lúcia Lima Rodrigues


In a context characterized by some uncertainty about the standards that should be adopted to account for derivative instruments, it is understandable that Portuguese companies do not follow the same rules in the initial recognition and later evaluation of these instruments and that the information they provide is so heterogeneous. Thus, this study investigates how Portuguese companies report their derivative transactions and identify the adopted standards. In the year 2001 International Accounting Standard # 39, issued by the International Accounting Standards Board, began to applied at an international level to account for initial recognition and later evaluation of financial instruments. Nevertheless, in Portugal it seems that most companies are not prepared yet for its adoption or seem not to be sure about its implementation in our country.

Key words: derivative instruments, IAS 39, DC 17.

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