United States

Defining Issues: Redeliberations Begin on Impairment, Classification and Measurement of Financial Instruments

Sep 25, 2013
From the Financial Reporting View and the IFRS Institute

At their September 2013 joint meeting, the FASB and IASB (the Boards) discussed their respective proposed standards on financial instruments’ impairment and classification and measurement. For the proposed impairment Accounting Standards Update (ASU), the FASB reached tentative decisions on measurement of expected credit losses, time value of money, and application guidance when assessing the future to develop forecasts. For the proposed classification and measurement ASU, the Boards tentatively made decisions for purposes of the solely principal and interest (SPPI) condition on meaning of principal, meaning of interest, and prepayment and other contingent features.

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