IFRIC 9 — Reassessment of Embedded Derivatives
Effective date: |
First effective as Canadian GAAP under Part I for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application of Part I was permitted. |
Published by IASB: |
March 2006 |
Included in Part I of CPA Canada Handbook: |
January 2010 |
Overview
IFRIC 9 Reassessment of Embedded Dérivatives concludes that an entity must assess whether an embedded derivative is required to be separated from the host contract and accounted for as a derivative when the entity first becomes a party to the contract. Subsequent reassessment is prohibited unless there is a change in the terms of the contract that significantly modifies the cash flows that otherwise would be required under the contract, in which case reassessment is required.
History of IFRIC 9
The following table shows the history of this standard subsequent to the adoption of IFRS in Canada.
Date1 |
Development |
Comments |
Included in Part I of the CPA Canada Handbook2 |
January 2010 |
Part I of the CPA Canada Handbook issued |
Effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application is permitted. |
January 2010 |
Notes
- For further details of relevant developments prior to this, please refer to our Deloitte Global section.
- Newly issued, amended or revised IFRSs are part of Canadian GAAP only after they are approved by the Accounting Standards Board in accordance with its due process.
The above summary does not include details of consequential amendments made as the result of other projects.
Related Standards
Amendments under consideration
- None