IFRS - IFRS 9 Financial Instruments

IFRS 9 is complicated. But it doesn’t have to be… Join us as we simplify the standard and work through principles practically so that we can bust the myth that IFRS 9 complicated.

This session looks to take the sting out of financial instruments! Financial instrument assets and liabilities have separate accounting requirements, and present an accountant with an array of options for classifying financial instruments, for e.g., amortised cost and fair value through profit and loss.

We will look to provide a clear understanding of the key classification, recognition and measurement principles related to both financial instrument assets and liabilities, whilst attempting to firmly establish the requirements through example calculations and accounting entries as time allows.
Any amendments proposed to IFRS 9 in 2024 / 2025 will also be addressed.

IFRS – IAS 21 The Effects of Changes in Foreign Exchange Rates

When you enter into transactions that are denominated in a foreign currency, we often have to determine a sensible way of translating the amount / balance to local currency so it can be captured in the accounting records and reported in the reporting entity’s currency in the financial statements.

Sometimes the methodology / approach to translation differs when trying to account for a balance versus a transaction.

The idea is that we need to ensure our foreign denominated amounts are represented as fairly as possible in the accounting records in relation to what the eventual / expected cash flow is to be upon settlement.
Any amendments proposed to IAS 21 in 2024 / 2025 will also be addressed.