Transcription of IFRS 9: Financial Instruments – high level summary
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IFRS 9: Financial Instruments – high level summary
April, 13. IFRS 9: Financial Instruments high level summary Background IFRS 9 Financial Instruments is the IASB's replacement of IAS 39 Financial Instruments : Recognition and Measurement. The Standard includes requirements for recognition and measurement, impairment, derecognition and general hedge accounting. The version of IFRS 9 issued in 2014 supersedes all previous versions and is mandatorily effective for periods beginning on or after 1 January 2018 with early adoption permitted (subject to local endorsement requirements). For a limited period, previous versions of IFRS 91 may be adopted early, provided the relevant date of initial application is before 1 February 2015 (again, subject to local endorsement requirements).
value changes recognised in profit or loss, except for those equity investments for which the entity has elected to present value changes in other comprehensive income. The option to designate an equity instrument at FVTOCI is available at initial recognition and is irrevocable.
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