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Financial Instruments 

Changes to the accounting for financial instruments could affect almost all reporting entities.

Since November 2008, the IASB has been working to replace its financial instruments standard (IAS 39) with an improved and simplified standard. The IASB has structured its project to replace IAS 39 in three phases:         
     
Phase 1: Classification and measurement         
Phase 2: Impairment methodology          
Phase 3: Hedge accounting         
         
In addition, the IASB undertook a related project on offsetting of financial assets and financial liabilities.         
         
The current work plan anticipates significant progress in 2012, which will be necessary to maintain an effective date for IFRS 9 of 1 January 2015. 

 

IFRS Newsletter: Financial Instruments

         
IFRS Newsletter: Financial Instruments - issue 9, January 2013         
Financial Instruments highlights the discussions and tentative decisions of the IASB in January 2013 on the financial instruments (IAS 39 replacement) project..         
         
IFRS Newsletter: Financial Instruments - issue 10, February 2013         
Financial Instruments highlights the discussions and tentative decisions of the IASB in January 2013 on the financial instruments (IAS 39 replacement) project.

Contacts

Aura Giurcaneanu

Aura Giurcaneanu

Partner, Head of Audit and Assurance

+40 (744) 655 847

Angela Manolache

Angela Manolache

Advisory, Director

+40 (372) 377 800

Related links

For quick access to a range of accounting, auditing and financial reporting guidance and literature, please visit KPMG's Accounting Research Online.