2025-09-01-ACCA-碳相关仪器——会计处理注意事项（英）页_18页_1mb

报告摘要

Summary of Carbon-related Instruments – Considerations for Accounting Treatments

Core Content

This document discusses the accounting treatment of carbon-related instruments in the absence of a dedicated IFRS standard. It outlines a suggested workflow for companies to determine the appropriate classification and measurement of these instruments, based on existing IFRS standards and the nature of the instrument.

The key focus is on how companies can recognize and measure carbon-related instruments as assets, liabilities, income, or expenses, and the implications of the lack of specific guidance.

Main Points

1. Scope and Disclaimer

The article focuses on companies that acquire carbon-related instruments for their own use.
It does not cover companies that generate carbon-related instruments or use them for trading or hedging.
The suggested workflow is not exhaustive, as it does not cover all possible accounting treatments.
The article is not a substitute for IFRS standards and does not constitute professional advice.

2. Implications of No Dedicated Accounting Standard

Companies apply diverse accounting treatments due to the lack of a specific standard.
This leads to inconsistency in how different companies report the same type of instrument.
Users of financial statements face challenges in comparing companies due to varied treatments.
Auditors may need to apply more judgment when assessing these instruments.
Regulators and standard setters are encouraged to understand current practices to develop better guidance.

3. Suggested Workflow for Accounting Treatment

The workflow involves the following steps:

Evaluate the nature, contractual features, and applicable regulation of the instrument.
Determine the unit of account (individual contract, part of a contract, or portfolio).
Determine whether the instrument is an asset or an expense.
Classify the instrument as an asset (intangible, inventory, or financial asset) or an expense.
Measure the asset at cost or fair value, depending on the situation.
Consider impairment if the instrument is recognized as an asset.
Account for government grants and obligations to acquire instruments.
Provide relevant disclosures about the instrument.

Key Accounting Considerations

2.3.1 Evaluating the Nature of the Instrument

Companies should consider the life cycle of the instrument, including its generation, function, and retirement.
If the instrument is intended for immediate use, evaluation may be less important.
Separability and transferability of the instrument are key factors in determining its classification.

2.3.2 Unit of Account

The unit of account depends on whether the instrument is separately identifiable and transferable.
Companies must make an irrevocable election at initial recognition and maintain the treatment until the instrument is derecognized.

2.3.3 Asset vs. Expense

An asset is defined as a present economic resource controlled by the company.
If the instrument does not meet the asset criteria, it is recognized as an expense.

2.3.4 Asset Classification

Financial assets: Recognized under IFRS 9 if the company becomes a party to the contractual provisions.
Intangible assets: Applied if the instrument is identifiable, controlled by the company, and provides future economic benefits.
Inventory: Applied if the instrument is held for sale, in production, or used as material/supply.

Measurement and Disclosure

Financial Assets

Measured at fair value through profit or loss (FVPL).
If a company designates a financial asset at FVPL, it must eliminate or reduce an accounting mismatch.

Intangible Assets

Measured initially at cost.
Subsequent measurement can be at cost model or revaluation model (if an active market exists).
Revaluation increases are recognized in other comprehensive income (OCI), while decreases are first deducted from revaluation surplus before profit or loss.

Inventory

Measured at lower of cost and net realisable value.
When sold, the carrying amount is recognized as an expense in the period the related revenue is recognized.
If used in production, the cost may be allocated to the related asset and recognized as an expense over its useful life.

Impairment

If the instrument is recognized as an asset, it must be tested for impairment under IAS 36.
The disappearance of an active market may indicate impairment.

Disclosure

Companies should disclose relevant information about the nature, function, and financial effects of carbon-related instruments.
This includes the accounting treatment, measurement basis, and intended use of the instrument.

Recommendations

Standard setters should review and update relevant IFRS standards to better accommodate carbon-related instruments.
Companies should develop consistent accounting policies based on the instrument’s function and use.
Users of financial statements should be more diligent in understanding the accounting treatment applied by different companies.
Auditors should be aware of the uncertainty in these treatments and apply more judgment where necessary.

Useful References

ISDA (2023): Accounting for Carbon Credits – provides key accounting issues.
ESMA (2024): Clearing the Smog: Accounting for Carbon Allowances in Financial Statements – discusses different approaches in European markets.
IASB (2014): Summary of Accounting Issues – outlines accounting issues related to cap-and-trade schemes.
IASB (2015): Why Do We Need a Fresh Approach? – explores the limitations of current standards for cap-and-trade.