United States

IFRS Newsletter: Financial Instruments - The Future of IFRS Financial Instruments Accounting

Oct 07, 2013
From the Financial Reporting View and the IFRS Institute

The September 2013, Issue 15 of KPMG ISG's IFRS Newsletter: Financial Instruments - The Future of IFRS Financial Instruments Accounting summarizes the September IASB meetings at which the Board discussed:

Classification and Measurement. The IASB and FASB reached tentative decisions about the meanings of principal and interest, contingent features, and prepayment and extension features.

Impairment. The IASB reached tentative decisions about the role of delinquency information in assessing credit risk, recognizing credit losses for financial instruments for which there has not been a significant increase in credit risk since initial recognition, and whether and how to define default. The IASB also decided to evaluate possibilities for convergence after considering the changes that the IASB and FASB ultimately make to their respective proposals.

Read KPMG ISG's IFRS Newsletter: Financial Instruments - The Future of IFRS Financial Instruments Accounting