Deloitte US alert on accounting for eurozone sovereign debt holdings
12 Jan 2012
Deloitte (United States) issued an alert regarding the impairment of Greek government bonds (GGBs) and debt issued by other eurozone states. The alert notes that under US GAAP and IFRSs, GGBs and other loans that are issued by the Greek state are impaired (other-than-temporarily impaired in the case of GGBs) as of 31 December 2011. The alert provides guidance on the measurement of the impairment loss for the different types of investment.
Click for more information and to view Financial Reporting Alert 12-1, Accounting for Eurozone Sovereign Debt Holdings.