A focus on puttable instruments
The IASB published an amendment to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements, on 14 February 2008 after a long waiting period. Fredré Ferreira, senior manager in UK ACS, looks at the changes and their impact.
The amendment to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements is the outcome of the Board’s earlier commitment to improve the relevance and understandability of the current accounting treatment for these instruments. The amendment is effective for year-ends commencing on or after 1 January 2009 with earlier adoption allowed.
What else is covered in this month’s Headlines?
- Australian financial reporting developments
- IFRIC D23: Distributions of non-cash assets to owners
- Roundtable discussion on financial instruments
- IFRS or not? IOSCO urges clarification
- New trustees at IVSC
- IFRS supplement: Carve out/combined financial statements
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