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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.         
         

 

* IFRS 9 (2013) removed the previous 1 January 2015 mandatory effective date of IFRS 9. At the IASB’s November 2013 meeting, the Board decided that the mandatory effective date of IFRS 9 would not be before 1 January 2017, but that the final effective date will be determined when the classification and measurement and impairment chapters of IFRS 9 are finalized.

 

 

IFRS Newsletter: Financial Instruments

 

 

IFRS Newsletter: Banking

 

 

Contacts

Aura Giurcaneanu

Aura Giurcaneanu

Partner, Audit & 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.