IFRS 9: Difference between revisions
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IFRS 9 largely replaced IAS 39 'Financial Instruments: Recognition and Measurement'. | IFRS 9 largely replaced IAS 39 'Financial Instruments: Recognition and Measurement'. | ||
:<span style="color:#4B0082">'''''Accounting and tax surprises under IFRS 9'''''</span> | |||
:"Corporate borrowers often need to renegotiate their existing loan liabilities, and in many companies this responsibility will fall on the treasurer. | |||
:Although treasurers may not necessarily be accounting experts, they still need to carefully consider the potential accounting impacts when renegotiating loan terms. | |||
:Under IFRS 9: Financial Instruments, loan modifications can trigger gains and losses for financial reporting purposes and may even have tax implications." | |||
:''Renegotiating a loan? Get the accounting right - Kern Roberts, managing director, global accounting practice lead Chatham Financial.'' | |||
== See also == | == See also == | ||
* [[Derecognition]] | |||
* [[Derivative instrument]] | * [[Derivative instrument]] | ||
* [[Extinguishment]] | |||
* [[Fair Value Adjustment]] | * [[Fair Value Adjustment]] | ||
* [[Financial instrument]] | * [[Financial instrument]] | ||
| Line 14: | Line 27: | ||
* [[IFRS 15]] | * [[IFRS 15]] | ||
* [[Impairment]] | * [[Impairment]] | ||
* [[Modification]] | |||
* [[Non-substantial modification]] | |||
* [[Recognition]] | * [[Recognition]] | ||
* [[Substantial modification]] | |||
== | ==Other resources== | ||
*[https://www.iasplus.com/en/standards/ifrs/ifrs9 IFRS 9 summary - IAS Plus] | *[https://www.iasplus.com/en/standards/ifrs/ifrs9 IFRS 9 summary - IAS Plus] | ||
*[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ifrs-9-financial-instruments.pdf?bypass=on IFRS 9 full text - IFRS webpage] | *[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ifrs-9-financial-instruments.pdf?bypass=on IFRS 9 full text - IFRS webpage] | ||
*[https://www.treasurers.org/hub/treasurer-magazine/renegotiating-loan-get-accounting-right-warns-adviser Renegotiating a loan? Get the accounting right - Kern Roberts, managing director, global accounting practice lead Chatham Financial] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] | ||
Latest revision as of 00:06, 29 October 2024
International Financial Reporting Standard 9, dealing with financial instruments.
IFRS 9 largely replaced IAS 39 'Financial Instruments: Recognition and Measurement'.
- Accounting and tax surprises under IFRS 9
- "Corporate borrowers often need to renegotiate their existing loan liabilities, and in many companies this responsibility will fall on the treasurer.
- Although treasurers may not necessarily be accounting experts, they still need to carefully consider the potential accounting impacts when renegotiating loan terms.
- Under IFRS 9: Financial Instruments, loan modifications can trigger gains and losses for financial reporting purposes and may even have tax implications."
- Renegotiating a loan? Get the accounting right - Kern Roberts, managing director, global accounting practice lead Chatham Financial.
See also
- Derecognition
- Derivative instrument
- Extinguishment
- Fair Value Adjustment
- Financial instrument
- Hedge accounting
- IAS 32
- IAS 39
- IFRS 9 hedge accounting reforms: a closer reflection of risk management?
- IFRS 15
- Impairment
- Modification
- Non-substantial modification
- Recognition
- Substantial modification
