واقع الالتزام بمعياري المحاسبة الدوليين 32و39 في إدارة المحافظ الاستثمارية للمصارف العاملة في الاراضي الفلسطينية
financial instruments fundamentally affect the economy,technological and administrative progress has contributed to increasing innovation
اسامه كامل مصطفى حرز الله
Osama Kamel Mustafa Awad
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Financial instruments fundamentally affect the economy, technological and administrative progress has contributed to increasing innovation and diversity of financial instruments suited to the investment and financial needs, and in turn these innovative financial instruments posed a serious challenge for accounting systems and the drafters of accounting standards regarding how to report, disclose, recognize and measure these instruments in a fair and acceptable manner. This study addressed the confusion caused by the issuance of International Accounting Standards for financial instruments and the challenges that faced adopting these standards and reporting on these financial and investment instruments in accordance with the requirements of these standards. The International Accounting Standards Committee sought during the past 20 years to develop comprehensive standards, of high quality and transparency to address key challenges, in presentation, disclosure, recognition and measurement of financial instruments. IAS 32 – was issued to addresses issues of presentation and disclosure; IAS 39 – was issued to address recognition and measurement; and at the end of 2005 IFRS 7, which addressed the specific issue of disclosure and kept IAS 32 only to address presentation. Objective of this study is to determine whether the international accounting standards and international financial reporting standards applied in the Palestinian banking sector and in particular the application of the standards related to financial instruments, affecting presentation, disclosure, recognition and measurement of financial assets and investments, in light of the Palestinian Monetary Authority decree to adopt the international accounting standards, and circulate that to banks operating in the Palestinian Territories. The theoretical aspect of this study showed the importance and benefits of the application of international accounting and financial reporting standards in thePalestinian Territories, and reviewed stages of implementing these standards in the countries of the world, and the benefits to investors and the economy. For the analytical aspects the SPSS statistical program was used to analyze the data obtained through a survey which was distributed to the banks in the Palestinian Territories. Several results were reached, the most important of which were the obligation of banks operating in the Palestinian Territories applying international accounting standards and the standards for financial instruments which affects the valuation of financial investment portfolio of these banks, and the regulation of banks under the control of the PMA has a great deal of influence in increasing the commitment of implementing the international accountingstandards, another result of the study was, that implementing the international accounting standards has an effect on the value of the assets, profit and loss of the banks operating in Palestinian Territories. This study recommended increased cooperation between the PMA and banks in the Palestinian Territories on mechanisms for application of international accounting and financial reporting standards as would assure the readiness of banks to implement these standards in terms of human, technical and technological resources, and ensure that the standards be easily translated to a level understood by accountants and to avoid literal translation that would impact negatively upon application. The study also recommended the followup of education programs at universities and institutes to update them to include new or updated standards, and increase the level of training and qualification for accountants and financial professionals who prepare financial statements of banks to keep abreast of evolving standards of international accounting and financial reporting standards, and to encourage studies, seminars and workshops by universities, institutes and professional associations specializing in accounting and auditing on standards for financial instruments and issuing special bulletins for the application of these standards.