Title: ON THE AMENDMENTS TO THE INTERNATIONAL FINANCIAL REPORTING STANDARDS RELATING TO THE FINANCIAL REPORTING OF FINANCIAL ASSETS
Abstract: The dynamic development and diversity of financial assets launches great challenges against theaccounting theory and practice. The accounting standards concerning the accounting treatment of financialassets are some of the most dynamically and quickly changing accounting standards. The present researchaddresses the different accounting standards regulating the accounting treatment of financial assets by focusingon the specific new developments in their classification and measurement. The amendments are associated withthe adoption of a new international accounting standard – IFRS 9 Financial Instruments. The application of anew impairment model – the approach of expected losses (The Expected Loss Model-EL), grounded in IFRS 9Financial instruments is a fundamental change in the rules on reporting and recognition of financial instrumentsimpairment. The specific requirements of the accounting standards adopted and approved by the EuropeanCommission, which are applicable to the studied issues, have been explored and analyzed in detail.
Publication Year: 2016
Publication Date: 2016-12-09
Language: en
Type: article
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