Accounting considerations in 'turbulent times'
07 Jan 2009
Deloitte's IFRS Global Office has published Turbulent Times: Key Accounting Considerations in Today's Volatile Markets.
This accounting alert highlights the accounting issues and literature most likely to be relevant when assessing the accounting implications of today's financial environment. It focuses on the following:
- determining fair values in inactive markets,
- revised projections of economic outlook indicating impairment and lack of recoverability for many assets,
- reduced availability of credit and increasing cost of finance,
- increased levels of bankruptcy,
- the impacts on hedge accounting, and
- critical enhanced disclosure requirements.