IFRS 9 - The GAAP Site

IFRS 9 for insurers – Are you good to go? KPMG IFRS Publication

October 25, 2021 alishan No Comments

Many insurers have used the temporary exemption from applying IFRS 9 Financial Instruments and have instead continued to apply the predecessor standard IAS 39 Financial Instruments: Recognition and Measurement. However, this exemption will no longer apply when IFRS 17 Insurance Contracts becomes effective – i.e. for annual periods beginning on or after 1 January 2023 – and that time is approaching…

IFRS, KPMG IFRS Publications

IFRS accounting primer for renewable energy power purchase agreements

September 4, 2021 alishan No Comments

This IFRS accounting primer for renewable energy power purchase agreements (PPAs) was produced by EY in collaboration with the Business Renewables Centre (BRC) Canada. It is intended to assist accounting professionals in off-taker organizations to understand and assess the potential accounting implications of renewable energy PPAs and explain such implications to internal stakeholders. Download directly…

EY IFRS Publications, IFRS

Achieving Hedge Accounting in Practice- PwC In Depth IFRS 9 Guide

August 25, 2021 alishan No Comments

Hedge accounting under IFRS 9 is more attractive than under IAS 39. And it may be easier to comply with the requirements although ‘easier’ is a relative term. Hedge accounting is still optional but a wider range of instruments qualify as hedging instruments, effectiveness testing is simplified and more things can be hedged. This in…

IFRS, PwC IFRS Publications

Lease considerations for Power Purchase Agreements

August 2, 2021August 21, 2021 alishan No Comments

The use of Power Purchase Agreements (PPA) in the supply of renewable energy is on the rise. This EY publication focuses solely on the assessment of whether solar and wind energy PPAs contain a lease in accordance with IFRS 16 Leases. In most cases, other accounting standards, including IFRS 9 Financial Instruments and IAS 38 Intangible Assets, also…

EY IFRS Publications

Acquiring loans Accounting by banks for loans

April 21, 2021August 21, 2021 alishan No Comments

IFRS 9 Financial Instruments sets out the general principles for recognising, classifying, and measuring financial assets – e.g. loans. These principles apply for both originated and acquired loans and for certain loan commitments, but how do they apply? This KPMG Publication deals with Accounting by banks for loans acquired either directly or through a business combinations. Download…

KPMG IFRS Publications