• I. Introduction
  • II. Modelling the activities of a modern universal bank
  • II.1. Characteristics of a modern universal bank
  • II.2. Key assumptions of the bank model
  • II.3. Activities of the model bank
  • II.4. Economic performance measurement for the model bank
  • III. Accounting regimes for financial instruments
  • III.1. Accounting under IAS before IAS 39 (“Old IAS”)
  • III.2. Accounting under IAS 39 (“New IAS”) and US GAAP
  • IV. Application of accounting rules to the activities of the model bank
  • IV.1. Financial statements of the model bank under Old IAS
  • IV.2. Financial statements of the model bank under New IAS without hedge accounting
  • IV.3. Financial statements of the model bank under IAS 39 and SFAS 133
  • V. Conclusions