This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Deloitte IFRS podcast – Offsetting of financial assets and financial liabilities

Published on: 16 Dec 2011

The IASB issued amendments to IAS 32 Financial Instruments: Presentation that provide clarifications on the application of the offsetting rules.  This joint project between the IASB and FASB was intended to address the differences in their respective accounting standards regarding offsetting of financial instruments.  However, the FASB decided to retain the current US GAAP guidance. Therefore, the Boards decided to jointly focus on developing converged disclosure requirements to allow financial statement users the ability to more easily compare financial instruments exposures under IFRS and US GAAP.  Additionally, the IASB decided to amend IAS 32 to clarify certain aspects because of diversity in application that was identified during the IASB constituent outreach.

Randall Sogoloff, Leader for Communications in the Deloitte IFRS Global Office, and  Andrew Spooner, leader of Deloitte’s global IFRS financial instruments team, discuss the recently issued amendments relating to offsetting of financial assets and financial liabilities.

Download

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.