Mar 03, 2014
From the IFRS Institute
The February 2014, Issue 20 of KPMG ISG's IFRS Newsletter: Financial Instruments - The Future of IFRS Financial Instruments Accounting summarizes the February IASB meetings at which the Board discussed:
IFRS 9, Financial Instruments. The Board tentatively decided that IFRS 9 will be effective for annual periods beginning on or after January 1, 2018. The Board expects to issue a final standard in mid-2014.
Fair Value Measurement. The Board tentatively decided that the fair value measurement amendments, which clarify the unit of account for quoted investments, would require an adjustment to opening retained earnings in the period of adoption. The Board expects to issue an Exposure Draft in the second quarter of 2014.
The Board also expects to issue a Discussion Paper about macro hedge accounting in the first quarter of 2014.