On 28 November 2012, the IASB issued an exposure draft (ED) that proposes limited amendments to IFRS 9 (2010) Financial Instruments on the classification and measurement of financial assets and financial liabilities. The ED introduces:
- a new fair value through other comprehensive income (FVOCI) measurement category for financial assets;
- a new business model, along with new application guidance on applying the business model concept;
- a ‘modified economic relationship’ test for assets where the economic relationship between principal and interest is subject to change; and
- permission to early apply only the own credit requirements for financial liabilities measured under the fair value option, without having to early apply IFRS 9 in its entirety.
Those standards have an effective date of 1 January 2015.
- First Impressions: Additions to IFRS 9 Financial Instruments
This edition of First Impressions considers the requirements of a new edition of IFRS 9 Financial Instruments issued in October 2010.
- First Impressions: IFRS 9 Financial Instruments
This edition of First Impressions considers the requirements of the new standard IFRS 9 Financial Instruments issued in November 2009.