Modification

1. Financial reporting - financial assets - financial liabilities - renegotiation - International Financial Reporting Standards (IFRS) - IFRS 9.

Under IFRS 9 a to a financial asset or liability is a change to its contractual cash flows, following a renegotiation.

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.

2. Business maths - information technology - artificial intelligence (AI) - law - regulation - contract.

Any kind of change to an existing structure, but not its replacement.

See also

• Artificial intelligence (AI)
• Contract
• Derecognition
• Derivative instrument
• Discounted cash flow
• Extinguishment
• Fair Value Adjustment
• Financial asset
• Financial instrument
• Financial liability
• Hedge accounting
• IFRS 9
• IFRS 15
• Impairment
• Information technology
• International Financial Reporting Standards (IFRS)
• Law
• Modification gain or loss
• Non-substantial modification
• Present value
• Recognition
• Regulation
• Set-off
• Substantial modification

Other resources

• IFRS 9 summary - IAS Plus
• IFRS 9 full text - IFRS webpage
• Renegotiating a loan? Get the accounting right - Kern Roberts, managing director, global accounting practice lead Chatham Financial