IFRS® Taxonomy Update-Prepayment Features with Negative Compensation (Amendments to IFRS 9) [Completed]
Effective date: |
The IFRS Taxonomy 2018 was published on March 16, 2018 |
Last updated: |
March 2018 |
Overview
In October 2017, the IFRS Foundation published for public comment the Proposed Update to the IFRS Taxonomy for Prepayment Features with Negative Compensation (Amendments to IFRS 9), which was issued by the International Accounting Standards Board (the Board) on the same date.
In March 2018, the IFRS Foundation published the IFRS Taxonomy Update — Annual Improvements and the IFRS Taxonomy Update — Prepayments Features with Negative Compensation (Amendments to IFRS 9). The IFRS Taxonomy 2018 incorporates the changes resulting from these two updates.
The amendments to IFRS 9 allow companies to measure particular prepayable financial assets with so-called negative compensation at amortised cost or at fair value through other comprehensive income if a specified condition is met—instead of at fair value through profit or loss.
As a result of the amendments made to IFRS 9, two tables have been added to the IFRS Taxonomy—one for financial assets and the other for financial liabilities.
Other developments
March 2018
On March 16, 2018, the IFRS Foundation published the IFRS Taxonomy Update — Prepayments Features with Negative Compensation (Amendments to IFRS 9).
February 2018
On February 23, 2018, the IASB® staff updated the work plan to indicate that the Board expects to issue the final update to the IFRS Taxonomy in March 2018.
December 2017
On December 18, 2017, the IASB staff updated the work plan to indicate that the Board expects to review the Proposed Taxonomy Update Feedback in February 2018.
October 2017
On October 27, 2017, the IASB staff updated the work plan to indicate that the Board expects to review the Proposed Taxonomy Update Feedback in Q1/2018.
On October 12, 2017, the IFRS Foundation published for public comment the Proposed Update to the IFRS Taxonomy for Prepayment Features with Negative Compensation (Amendments to IFRS 9).