IAS Plus newsletter - IAS Plus Quarterly Newsletter Asia-Pacific Edition
Published on:
29 Nov 2005
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IAS 39 and IFRS 4 amended for guarantee contracts
The IASB has amended the scope of IAS 39 Recognition and Measurement issued. However, if an issuer of financial guarantee contracts has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts, the issuer may elect to apply either IAS 39 or IFRS 4 Financial Instruments:to include financial guarantee contracts Insurance Contracts to such financial guarantee contracts.
