Özet:

Futures is defined as a contract for the purchase and sale of the underlying asset at a predetermined price in a certain period of time. It is important to determine the fair value of the contracts in question, how to determine the value changes during the maturity and how the results should be reflected in the financial statements. The purpose of this study is to examine the accounting and reporting principles of futures contracts within the framework of the hedge accounting provisions defined in TFRS 9 Financial Instruments Standard. As a matter of fact, the fair value of futures contracts is subject to continuous evaluation throughout the maturity period, and the final profit or loss is finalized as of the maturity date. In this regard, in accordance with the fair value approach of accounting standards, determining gains or losses related to futures contracts and transferring them to financial statements to the extent of accuracy and reliability is an important requirement for financial information users. In the study, futures contracts were evaluated in general, and then how futures contracts acquired for the purpose of hedging against fair value change risk and cash flow variability should be accounted for in accordance with the hedge accounting principles specified by TFRS 9 Financial Instruments Standard was explained with sample applications.