Český finanční a účetní časopis 2006(2):59-72 | DOI: 10.18267/j.cfuc.149

Measurement mismatch between the assets and liabilities arising from emission rights (withdrawal of IFRIC 3)

Marie Zelenková
Ing. Marie Zelenková, Ph.D. - odborná asistentka; Katedra finančního účetnictví, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3; <zelenm@vse.cz>.

In June 2005 the International Accounting Standards Board (IASB) decided to withdraw IFRIC 3 Emission Rights with immediate effect. IFRIC 3 was developed to explain how to apply existing International Financial Reporting Standards (IFRS) to 'cap and trade emission rights schemes. However, IFRIC 3 created an unsatisfactory consequence of the interaction of IAS 38 and IAS 37, in the concrete a measurement mismatch between the assets and liabilities recognized in accordance with IFRIC 3, and a mismatch in the location in which the gains and losses on these assets and liabilities are reported. This paper analyses the consequences of this in detail and proposes treatment, how to supersede it.

Keywords: Emission rights; Reporting; Measurement mismatch.
JEL classification: M41

Published: June 1, 2006  Show citation

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Zelenková, M. (2006). Measurement mismatch between the assets and liabilities arising from emission rights (withdrawal of IFRIC 3). Czech Financial and Accounting Journal, 2006(2), 59-72. doi: 10.18267/j.cfuc.149
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    References

    1. IASCF (2005a): IFRIC - Items under consideration. [on-line], London, IASCF, 2005, [cit.: 18. 10. 2005], <http://www.iasb.org/current/ifric_consideration.asp?showPageContent=no&wml=17_21_90_04072005.htm>.
    2. IASCF (2005b): International Financial Reporting Standards including International Accounting Standards and Interpretations as at 1 January 2005. London, IASCF, 2005.
    3. Operátor trhu s elektřinou (2005): Národní rejstřík obchodování s povolenkami. [on-line], Praha, Operátor trhu s elektřinou, 2005, [cit.: 2.11.2005], <http://www.povolenky.cz>

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