Beyond the GAAP no.55 - April 2012

Financial instruments were in the spotlight in April! The two Boards continued their progress on the proposed “expected loss” impairment model for financial assets (Phase II of IFRS 9/Impairment), and in particular clarified how the expected loss estimate should be determined. The Boards also reached an agreement on the definition of a business model which would permit measuring financial assets at amortised cost, and on bifurcation of embedded derivatives (Reopening of Phase I of IFRS 9/ Classification and measurement).
At the beginning of May, the IASB published an exposure draft of proposed amendments to eleven IFRSs under its Annual Improvements project (cycle 2010-2012). The comment period is open until 5 September 2012.
Enjoy your reading!