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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 9 Modified financial assets – If the contractual cash flows on a financial asset are renegotiated or modified, the holder needs to assess whether the financial asset should be derecognised. While IAS 39 contains guidance on when financial liabilities that have been renegotiated or modified should … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 27/04/2020 Topics hide IFRS 9 Financial instruments quick and best snapshot – no hedge accounting 3 things to consider 1. Risk management considerations 2. Classification and measurement 3. Expected credit loss model SCOPE DEFINITIONS Derecognition of financial assets Reclassification of financial assets EFFECTIVE DATE Example of IFRS 9 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 26/02/2020 IFRS 9 Complete Snapshot Financial Instruments – The objective of IFRS 9 is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 8 Identifying operating segments – There are four key steps. Entities will need to: Identify the Chief Operating Decision Maker (CODM) (group/team/individual). Identify their business activities (which may not necessarily earn revenue or incur expenses). Determine whether discrete financial information is available for the business activities. … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 IFRS 7 Other price risks Step-by-step – Other price risks is part of the risk disclosures requirements under IFRS 7 Financial Instruments: Disclosures. Other price risks is part of market risk (the other main market risk categories being currency risk and interest rate risk) and is defined … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Market risk is part of the risk disclosures requirements under IFRS 7 Financial Instruments: Disclosures. Management should disclose information that enables users of its financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed at the end … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 IFRS 7 Interest rate risk disclosure example – Interest rate risk is part of the risk disclosures requirements under IFRS 7 Financial Instruments: Disclosures. Interest rate risk is part of market risk (the other market risks being currency risk and other price risk) and is defined as … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 IFRS 7 Comprehensive Risk disclosures – Management should disclose information that enables users of its financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed at the end of the reporting period [IFRS 7 31]. IFRS 7 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 IFRS 7 Complete Maturity analysis disclosure – IFRS 7 requires certain disclosures to be presented by category of an instrument based on the IFRS 9 recognition and measurement categories of financial instruments. Certain other disclosures are required by class of financial instrument. For those disclosures an entity … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 13/03/2020 IFRS 7 Best accounting for Treasury shares – Treasury shares are previously outstanding shares bought back from shareholders by the issuing company. IFRS does not mandate a specific method of presenting treasury shares within equity. However, local laws may prescribe the allocation method. Therefore, an entity needs … Read more