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Questionnaire on FVO for liabilities

  • IASB (International Accounting Standards Board) (blue) Image

25 May 2010

The IASB has published a questionnaire to seek the views of users of financial statements about the Board's Recent Exposure Draft on the fair value option for financial liabilities.

The ED proposes that all gains and losses resulting from changes in 'own credit' for those financial liabilities that an entity chooses to measure at fair value should be recognised as a component of 'other comprehensive income', not in profit or loss. Such gains or losses would be presented using a 'two-step approach':
  1. As a first step, an entity would present the full change in fair value in profit or loss.
  2. In the second step, the portion relating to changes in an entity's own credit risk would be presented as an offsetting entry in profit or loss and presented in OCI.
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