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Feb, 2016

From IAS 39 to IFRS 9 – Financial Instruments

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On 24 July 2014, IASB issued the fourth and final version of its new accounting standard – IFRS 9 Financial Instruments, which replaces most of the rule-based standards of IAS 39 with principle based guidance. IFRS 9 is built on a logical, single classification and measurement approach for financial assets that reflects the business model in which they are managed and their cash flow characteristics. The fundamental shift from IAS 39 to IFRS 9 standards is “Incurred Loss Approach” to “Forward-looking Expected Loss Approach” for impairment assessment. In the past, […]

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