Transcription of IFRS in Focus IFRS 9: Financial Instruments – high …
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IFRS in Focus IFRS 9: Financial Instruments – high …
ifrs Global office April 2016. ifrs in Focus ifrs 9: Financial Instruments high level summary Contents The Bottom Line Background ifrs 9 is effective for annual periods beginning on or after 1 January 2018 and, subject to local endorsement requirements, is available for early adoption. Overview of ifrs 9. The classification and measurement of Financial assets is dependent on the Classification and measurement of Financial contractual cash flows of the asset and the business model within which the Instruments asset is held. Impairment Embedded derivatives are no longer separated from Financial asset host Hedge accounting contracts. Disclosures The new impairment model is based on expected credit losses and applies to debt Instruments at amortised cost or FVTOCI, lease receivables, contract assets Transition to ifrs 9 and certain written loan-commitments and Financial guarantee contracts.
IFRS 9 provides guidance on how to determine whether a business model is to manage assets to collect contractual cash flows or to both collect contractual cash flows and to sell financial assets.
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