ANNEX U.K. INTERNATIONAL ACCOUNTING STANDARDS

INTERNATIONAL ACCOUNTING STANDARD 39 Financial instruments: recognition and measurement

Appendix A Application guidance

SCOPE (paragraphs 2-7) U.K.

AG4A Assertions that an issuer regards contracts as insurance contracts are typically found throughout the issuer's communications with customers and regulators, contracts, business documentation and financial statements. Furthermore, insurance contracts are often subject to accounting requirements that are distinct from the requirements for other types of transaction, such as contracts issued by banks or commercial companies. In such cases, an issuer's financial statements typically include a statement that the issuer has used those accounting requirements. U.K.