Dear All,
My question is about scope of IAS 39 and if that commodity price linked trade accounts receivable and payable (R&P) are in scope of IAS 39, how would recognize in financial statement. This R&P aren't derivatives and any future contracts, but they can settlement either in cash (fair value of gold at maturity date) or physical (same amount of gold at transaction date) at maturity date. R&P occur from ordinary transaction between trade contract counterparty.
In this situation, entity how can recognize this receivable and payable in its financial statement.
Thanks
