Ready or not, IFRS 9 is here for derivatives

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Jun 13, 2018

On June 13, 2018, Accounting Today published an article on how the new International Financial Reporting Standard for financial instruments, IFRS 9, diverges in several key elements and introduces concepts that don't exist under U.S. GAAP.

While the Securities and Exchange Commission expects the two standards to coexist, challenges remain for U.S. companies that have international subsidiaries that will need to report under IFRS 9 for statutory purposes and for U.S. subsidiaries of international companies.

What are turning out to be the most disruptive changes? The areas of divergence that will likely have the largest impact are twofold: the new time value election, and the related requirement to calculate “aligned time value.”

Review the full article on Accounting Today's website.

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