Financial Instruments: IFRS-9 — Classification and Measurement (Portfolio 5185)
Bloomberg Tax and Accounting Portfolio 5185, Financial Instruments: IFRS 9—Classification and Measurement, explores how an entity classifies and measures nonderivative financial instruments under International Financial Reporting Standards (IFRSs).
Bloomberg Tax and Accounting Portfolio 5185, Financial Instruments: IFRS 9—Classification and Measurement, explores how an entity classifies and measures nonderivative financial instruments under International Financial Reporting Standards (IFRSs), with a focus on the requirements of IFRS 9, Financial Instruments (as of July 2014).
This Portfolio does all of the following:
- Paraphrases the existing authoritative international guidance as set out in IFRS 9;
- Offers insight into the rationale for, and practical consequences of, the authoritative guidance;
- Provides context for and observations about illustrative examples set out in the authoritative guidance; and
- At a high-level, notes how authoritative generally accepted accounting principles in the United States (as set out in the Financial Accounting Standards Board (FASB) Accounting Standards Codification) compare and contrast with the authoritative international guidance.
The insights are drawn from analysis of the authoritative guidance, and also from the supporting project materials of the International Accounting Standards Board—for example, the basis for board’s conclusions and related dissents, exposure drafts, comment letters, and other project documentation.
Notice: This Tax Management Portfolio is intended to provide authoritative information regarding the subject matter covered, but is not intended to provide legal or accounting advice or any other professional service. The information is not relevant for any particular client or use and may not reflect all relevant laws applicable to any particular factual situation. Although diligent effort has been made to ensure accuracy of the information, the authors and publisher assume no responsibility for any reader’s reliance on the information or opinions expressed herein, and encourage the reader to verify all items by reviewing the original sources. To ensure compliance with IRS requirements, any discussion of U.S. federal tax matters contained in the publication is not intended or written to be used, and can’t be used, for the purpose of (i) avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) promoting, marketing or recommending to another party any arrangement or other transaction addressed herein.
This Portfolio may be cited as Bloomberg Tax and Accounting Portfolio 5185, Green, Financial Instruments: IFRS 9—Classification and Measurement (Accounting Policy and Practice Series). Within the Accounting Policy and Practice Portfolio Series, however, references to the Portfolios will include only the Portfolio numbers and titles.
Table of Contents
II. Scope of the Classification and Measurement Guidance
III. Initial Recognition of Nonderivative Financial Instruments
IV. Initial Measurement of Nonderivative Financial Instruments
V. Subsequent Accounting for Nonderivative Financial Instruments
VI. Disclosures About Nonderivative Financial Instruments
VII. Adoption of the Classification and Measurement Guidance