IFRS 9: Financial instruments

IFRS 9 fundamentally changed the accounting for financial instruments. The three key areas are Classification & Measurement (amortised cost, fair value with changes recognised in OCI or fair value with changes recognised in P&L), Impairment (forward-looking expected credit loss model) and Hedge accounting (rules have been eased).

Demystifying IFRS 9 for banks

IFRS 9's new impairment requirements for financial instruments are a big change from the existing IAS 39 guidance. Banks will be particularly impacted. In this video, the first of a series, PwC's IFRS 9 accounting technical specialists, Sandra Thompson and Mark Randall, highlight the key issues.

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Demystifying IFRS 9 for Corporates

There is a common perception that IFRS 9 Financial Instruments does not have a big impact on Corporates - in this video series, we will highlight why we think that perception is wrong!

In the first of the series, PwC's IFRS 9 accounting technical specialists, Sandra Thompson and Nitassha Somai, highlight what the main impacts are for Corporates, and provide some practical tips to bear in mind.

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Our guidance on IFRS 9 follows the three main aspects of the standard; classification and measurement of financial assets, applying the expected credit loss model to financial assets and hedge accounting. 

Classification and measurement

IFRS 9 requires financial assets to be measured at amortised cost or fair value. Fair value changes will be in profit or loss or taken to OCI. Fair value through OCI is a consequence of the business model for some assets but an irrevocable election at initial recognition for other assets. Our specialists share their insights in our suite of publications, videos and tools.

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Impairment

Calculating expected credit losses is a challenge, particularly for banks and other lenders. Our specialists share their insights and clarify the complicated requirements this area of IFRS 9. If you're looking for an overview or a deep dive on a technical issue, our suite of publications, videos and frequently asked questions should help you.

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Hedging

IFRS 9 provides an accounting policy choice: continue to apply the IAS 39 hedge accounting requirements until the macro hedging project is finalised, or apply IFRS 9 (with the exception only for fair value macro hedges of interest rate risk). Hedge accounting under IFRS 9 can be easier to achieve than under IAS 39. Hedge accounting is still optional but a wider range of instruments qualify as hedging instruments, effectiveness testing is simplified and more things can be hedged. Interested? Our specialists share their insights on how hedge accounting under IFRS 9 works.

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Marie Kling

Marie Kling

Global IFRS Financial Leader, PwC United States

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