Open Access Open Access  Restricted Access Subscription Access
Cover Image

A proposal to use accounting for derivative tools in government units A study of the Iraqi budget for the period 2004-2018

Mohammed Mahmood Jasim


The research dealt with the use of derived financial assets and their accounting in government units, by studying the Iraqi federal budget for the period from January 2004 to August 2018 and recognizing and disclosing them in the final account of the Republic of Iraq, and the researcher suggested that this activity be funded from the monetary reserve and at a rate not exceeding 10 % Of the total monetary reserve with the intention of investing, while the aim of the research was to shed light on that important activity and to deal with these tools derived from the specialized units of the state that do not deal with them, as an attempt to highlight the role of financial derivatives in addressing the persistent deficit in water Iraqi Azna and as a new tool to finance public debt, and the researcher reached to count the financial derivatives from the important financial engineering tools that include a set of benefits while surrounding them with a set of risks when dealing with them, and it is one of the topics that occupies the thinking of those responsible for practicing that activity to finance the budget deficit and reduce dependence On the oil rents, which constituted 90% of the state's budget revenues, the researcher recommended a number of recommendations, including diversifying the sources of budget revenues to reduce the risks resulting from the deficit in the government budget without relying on oil rents, and the possibility of using financial derivatives One possible solution

Full Text:



- Brealey , Richard .A.; Myers, Stewart .C., &Allen, Franklin (Principle of Corporate Finance) 9th ed, Mc Graw-Hill Irwin, 2008.

- Bodie, Zvi; Alex, kane, & Alan Marcus, J (Investments), 5thed, Mc Graw -hill Companies Inc, 2002.

- Gadanecz , Blaisa & Jeanneau, Serge , “Derivatives Markets “ , BIS Quarterly Review , September 2003.

- Hicks. j,” Financing government budget deficit as a liquidity risk mitigation tool for Islamic Banks: a dynamic approach”, Journal of International Financial Markets, Institutions & Money, Volume: 15 Issue: 1,2005.

- Heller. A,” The relationship between budget deficit and economic growth”, Journal of International Economics,2009.

- Hemple, George; Simonson, "Bank Management text and gases" 5th,ed., John-Wiley & Sons, Inc, 1999.

- Hyes, R., Arnold Childers and Philip Wallage, "Principles of Auditing : An international Perspective", New York , McGraw – Hall, 1999.

- Revsine, Lawrence, & Collins, Johnson,(Financial Reporting and Analysis) Prentice Hall, Upper addle River, New Jersey, 1999.

- Ritter, Lawrence S; Silber, Williams L. & Udall, Gregory F. (Principles of Money, Banking & Financial markets) 10th ed , An imprint of Addison Wesley Longman, Inc , 2000.

- Mark Allen, "Government Debt Management : Washington , IMF, 1992.

- Major, Ian," Job for the Engineers ", Global Investment Management ", Winter 89/90 Edition, pp60-65.

- Mayo, Herbert," Financial Institutions, Investment and Management" 7th ed., Harcourt Collage Publisher, 2001.

- Mithain,; "Modern Management text and gases" 5th,ed., John-Wiley & Sons, Inc, 1999.

- Morri,G. "Modermizing Budget administration ", Chicago, AID , 1981.

-Nickolas, Henry ."Public administration and Public Affairs" , Englewood Cliffs – Prentice ,Hull, 1980.

-Schroeder, Richard G. and Clark, Myrtle W., “Accounting Theory Text and Readings”, John Wiley & Sons, 6th edition, 1998.

- Thomas Murphy "Contemporary Public administration ", Itasca Illinosise Publishers , , 1981.

-Yuns A. El.Btrik ."Public Finance…selected topics , Alexandria – Eldar algamaya ,Fourth Edition , 2008.

- The Iraqi Financial Administration and Public Debt Law No. 95 of 2004.

- Iraqi Accounting Procedures Law No. 28 of 1940.

- Iraqi Federal Budget Law from December 2004 to August 2019


  • There are currently no refbacks.