Hello S, Trust everything going well. We think that there are likely to be significant issues with acceptability of impairment models driven by market prices. Any difference between the cost and fair value of the retained interest at the date that the entity loses control does not arise after initial recognition of the retained interest applying IFRS 9. report “Top 7 IFRS Mistakes”
In fact you’re my role model. Each word should be on a separate line. So we stopped charging interest to P or L 3 months after the loan default in 2015. As previously discussed, history shows that companies can be very reluctant to identify impairment losses by reference to the market. question: should i derecognize liability on 31st dec as soon i write the cheque with the following accounting entry: Dr. accounts payable Cr. If I account for such in Profit or Loss, does the accounting mismatch not occur? In addition, we observe that 23 of the 120 companies in our sample (or 19%) did not disclose any equity investments classified as AFS in their latest financial reports and therefore it appears that they had an immaterial (or perhaps nil) balance of such investments. And yes, IFRS 9 applies here. I want to ask whether advances to employees are financial asset? Hedge accounting is designating one or more hedging instruments so that their change in fair value is an offset to the change in fair value or cash flows of a hedged item.
Just for clarification, we(BANK) are expected to report our first IFRS report by June 2018, hence do your recommend early adoption of IFRS 9 instead of IAS 39 and IFRS 15 and 16 in our current situation? As previously mentioned, as part of that work, on 1 March 2018, EFRAG published the Discussion Paper (DP) Equity Instruments—Impairment and Recycling in order to gather its stakeholders’ views on the accounting for equity investments that are measured at fair value with changes recognised in OCI, in particular whether the requirements in IFRS 9 could be improved by introducing recycling and impairment for those investments. Hi Silvia, could you help to explain more on how to calculate EAD for 12 months and life time with easy example? History shows that companies can be very reluctant to recognise losses indicated by market prices and the question of identifying the point in time when equity investments are impaired (ie when losses must be recognised in P&L) has been a vexed one that was a source of great complexity during the recent global financial crisis.
4For example, EFRAG notes that respondents to its public consultation came from three industries: insurance, financial institutions and non-financial institutions. Hi Abu, yes, if you change the business model, it is possible to do this reclassification of a financial asset (not if you designated financial asset at FVTPL in line with IFRS 184.108.40.206 – that is irrevocable choice and not possible to do the reclass). It distorts the investor’s performance to recognise a gain of CU110 in P&L at one point in time; ie when the investor sells the share. S. Thank you for such a nice Interpretation. The two entities from each group with the largest holdings of equity investments classified as AFS hold 59%, 77% and 90% of the total equity investments classified as AFS for their group. In other words, for these investments, such gains and losses are never indicative of the investor’s performance; they do not become so in the future period when the strategic investment is sold. We think the PIR of IFRS 9 is an appropriate mechanism to address concerns about the effect of IFRS 9 on long-term investment. Therefore, no procrastinating, time to get ready!
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