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IFRS 9: Financial instruments

Effective for accounting periods beginning on or after 1 January 2018

The IASB introduced a new standard for financial instruments: IFRS 9, in response to the widespread criticism of IAS 39 and its alleged role in contributing to the financial crisis of 2007/2008. Especially classification and measurement of financial assets under IAS 39 received the most criticism during the financial crisis. Therefor the IASB decided to introduce a whole new standard: IFRS 9 Financial Instruments.

IFRS 9 Financial Instruments includes:

  1. Classification and measurement
  2. Impairment
  3. Hedge Accounting

Hedge Accounting will not be discussed in this memo.

Would you like to know more about IFRS (9)? Download the publication. Or contact our IFRS services specialists.

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