Financial Instruments Accounting

IFRS 17: Insurance Contracts

IFRS 17 presents a significant change in the way insurance companies and other financial services companies that issue insurance contracts must account for and report their financial performance under IFRS.  IFRS 17 will be mandatory for reporting periods beginning on or after January 1, 2021.  While the objective of IFRS 17 is to improve transparency [...]

Summary impact of IFRS 9 on non-financial entities

  The new hedge accounting model under IFRS 9 will have a significant impact on non-financial entities. While the new hedge accounting model has a less cumbersome approach compared to IAS 39, it has significant disclosure requirements that will need close review by entities. In July 2014, the International Accounting Standards Board (IASB) promulgated the [...]