A proposed Accounting Framework for Controlling Highly Complex and thoroughness Risks through using of Financial Derivatives (Covid - 19) as a Model

Abstract

The research aims to use appropriate financial derivative contracts in controlling the risks resulting from the current pandemic, identifying risks to companies, exposure to appropriate accounting entries and treatments, and knowledge research to carry out reforms in accordance with international financial reporting standards. Solving those problems, analyzing the risks facing companies, and identifying the appropriate accounting treatments. The research addresses the problem of the negative effects of crises in general and the pandemic in particular, using derivative financial instruments under conditions of uncertainty and enabling them to control risks effectively and successfully. The researchers followed the exploratory approach on a sample of academics and investors using a questionnaire. After analyzing it, it was found that the general average of the arithmetic mean is high for all research variables (3.95) and there is a strong correlation and impact relationship between the accounting framework and risk control by employing financial derivatives. hedged financial assets It enhances the ability of companies to continue and address risks before they occur.