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

Dec 20, 2013
From the Financial Reporting View and the IFRS Institute

The December 2013, Issue 18 of KPMG ISG's IFRS Newsletter: Financial Instruments - The Future of IFRS Financial Instruments Accounting summarizes the December IASB meeting at which the Board discussed:

Classification and Measurement. The IASB tentatively decided to extend the scope of the fair value option in IFRS 9, Financial Instruments, to financial assets that would otherwise be mandatorily measured at fair value through other comprehensive income.

Impairment. The IASB tentatively decided about measurement and presentation of expected credit losses on financial guarantee contracts and loan commitments other than revolving credit facilities, and about transition requirements.

Fair Value Measurement. The IASB tentatively decided to apply the portfolio measurement exception to a portfolio that contains only Level 1 financial instruments.

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