The proposals address how financial instruments are classified and measured. They also answer concerns raised by interested parties during the financial crisis.
The International Accounting Standards Board (IASB) published for public comment an exposure draft of proposals to improve financial instrument accounting. The proposals form part of the IASB’s comprehensive review of financial instrument accounting.
The proposals, which the
IASB believes will significantly reduce complexity and make it easier for investors to understand financial statements, address
how financial instruments are classified and measured. The proposals also answer concerns raised by interested parties during the financial crisis (for example, eliminating the different impairment approaches for available-for-sale assets and assets measured using amortised cost). The
IASB plans to finalise the classification and measurement proposals in time for non-mandatory application in 2009 year-end financial statements.
The
IASB will host two
live Web presentations to introduce its proposals on
Wednesday 15 July 2009.
The deadline for comments is 14 September 2009.
© IASB - International Accounting Standards Board
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