First Published: IFRS Boutique
Date: 16 February 2018
By: Chris Ragkavas, BA, MA, FCCA, CGMA
StudySmart management consultant, senior finance & accounting tutor, IFRS technical expert
IFRS 9 Financial Instruments is due to be applied by all entities reporting under IFRSs as per 1/1/2018, early adoption is permitted.
The marked departures from the current standard IAS 39 Financial Instruments: Recognition and Measurement are the treatment of impairment losses, and the classification and designation of financial assets.
We will deal in this short piece with the former, as it poses a significant challenge to financial institutions across the board.