DET G27
Issued
16 Jan 1995

Swaps

This determination details the periodic recognition of income and expenditure from financial arrangements referred to as swaps. Swaps typically involve the exchange of payment streams without necessarily requiring an exchange of principal. The determination does not apply to swaps involving commodities, equity, property, more than two currencies, or any amortisation or accretion of principal. The determination specifies four methods to calculate income or expenditure under a swap.