How the trials are calculated in UPSC
Standard setters dare a field test
Already at the end of November 2012 the IASB had published the draft ED / 2012/4 Classification and Evaluation: Limited Changes to IFRS 9 ("Classification and measurement - limited modifications to IFRS 9"). After the "partial" changes to the classification rules within IFRS 9 - assuming they are adopted in the final IFRS 9 - significant changes can be expected to a limited extent for individual users. So i.S. a “roll backwards”, the future regulations according to IFRS 9 have been adapted one step closer to the currently applicable law (IAS 39).
The original idea of IFRS 9 as a “replacement” of IAS 39 was a simplification of the still existing “mixed model approach”, ie the juxtaposition of different classification and corresponding valuation rules. With ED / 2012/4, in addition to the mandatory categories "at amortized cost" (amortized cost using the effective interest method) and "at fair value (through profit / loss)" (affecting income), a 'new' valuation category "at fair" will be introduced under IFRS 9 value through other comprehensive income "introduced for debt instruments. According to the categorization rules, a financial instrument is to be assigned to the new class if the following conditions are cumulatively met:
The cash flows from the financial instrument consist exclusively of interest and
According to the business model, there is no explicit intention to hold or sell.
Proof of the “hold or sell” business model will only be possible in individual cases. In this respect, it is questionable whether a representative number of users / participants can be identified in the field trial.
The European Financial Reporting Advisory Group (EFRAG) as well as other national standard setters (ANC, DRSC, FRC and OIC) would nevertheless like to find out the effects of the new regulations of IFRS 9 on the classification of financial assets as part of a field test. To this end, we are looking for participating companies that would be particularly affected by the amendment to IFRS 9. As expected, banks, insurers and other financial institutions are primarily addressed.
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