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IAS Plus

Amendments to IAS 39 & IFRS 7 reclassification of financial assets (updated)On 13 October 2008, the international accounting standards Board (IASB) publishedamendments to IAS 39 Financial Instruments: Recognition and Measurementand IFRS 7 Financial Instruments: amendments are a response to calls from constituents, particularly within the EuropeanUnion, to create a level playing field with US GAAP regarding the ability to reclassify financialassets. The changes to IAS 39 permit an entity to reclassify non-derivative financial assetsoutof the fair value through profit or loss (FVTPL) and available-for-sale (AFS) categoriesin limited circumstances.

Amendments to IAS 39 & IFRS 7 – reclassification of financial assets (updated) On 13 October 2008, the International Accounting Standards Board (IASB) published

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