L’IMPLEMENTAZIONE DELL’IFRS 9 - STRUMENTI FINANZIARI NELLE ENTITÀ NON FINANZIARIE
Abstract
IFRS 9 - Financial Instruments is
mandatorily effective for periods commencing on or after 1 January 2018. The adoption of
IFRS 9 will have a
major impact on financial institutions, but also corporates will be impacted by
the introduction of the new Standard; the major differences compared to IAS 39
refer to classification and measurement of financial assets,
impairment, and hedge accounting. The
classification and measurement of financial assets is dependent on contractual
cash flows of the assets and the business model within which the asset is held.
They are classified into one of these three categories (and measured
consequently): amortized cost, fair value through other comprehensive income
(FVTOCI), or fair value through profit or loss (FVTPL). An "expected loss”
impairment model is added to IFRS 9, where impairment losses and bad debt
provisions will be recognized sooner than under IAS 39 (in many cases leading
to a "day-one” provision recognition). Hedge
accounting can more closely reflect risk management, with more qualifying
hedging instruments and hedged items. Retrospective assessment of hedge
effectiveness is no longer required and the prospective test is now based on
the principle of an "economic relationship”.While IFRS 9 is generally to be applied
retrospectively in accordance with IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors, there are various exceptions (i.e. hedge
accounting) and exemptions to that principle.
References
- DELOITTE LLP, iGAAP 2017: Volume B: Financial Instruments - IFRS 9 and related Standards, Wolters Kluwers, Londra, 2017
- DELOITTE LLP, iGAAP 2017: Volume C: Financial Instruments - IAS 39 and related Standards, Wolters Kluwers, Londra, 2017
- DELOITTE LLP, IFRS Industry insights: Non-financial corporates, Deloitte IASPLUS website, 2014
- EARNST & YOUNG, IFRS 9 for non-financial entities, E&Y website; 2016
- KABURECK G., Implementing IFRS 9 Financial Instruments: other than financial institu- tions, IFRS Conference, Parigi, giugno 2015
- IFRS INTERPRETATION COMMITTEE, IFRIC Update, marzo 2017
- INTERNATIONAL ACCOUNTING STANDARD BOARD, IFRS 9 - Strumenti finanziari
- INTERNATIONAL ACCOUNTING STANDARD BOARD, IAS 39 - Strumenti finanziari: Rilevazione e valutazione
- LLOYD S., IFRS 9: A Complete package for Investors, IASB website, 2014
- UWADIAE O., IFRS 9 Implementation - Time to get ready, in Financial Reporting, 2016
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