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CONTENTS
from paragraph | |
Objective ................................................................................................................................ | 1 |
Scope ...................................................................................................................................... | 2 |
Definitions .............................................................................................................................. | 9 |
Recognition and Derecognition .............................................................................................. | 10 |
Initial Recognition............................................................................................................ | 10 |
Derecognition of Financial Assets ................................................................................... | 12 |
Derecognition of Financial Liabilities.............................................................................. | 35 |
Classification .......................................................................................................................... | 39 |
Classification of Financial Assets .................................................................................... | 39 |
Classification of Financial Liabilities .............................................................................. | 45 |
Embedded Derivatives ..................................................................................................... | 47 |
Reclassification ................................................................................................................ | 54 |
Measurement .......................................................................................................................... | 57 |
Initial Measurement ......................................................................................................... | 57 |
Subsequent Measurement of Financial Assets ................................................................. | 61 |
Subsequent Measurement of Financial Liabilities ........................................................... | 64 |
Fair Value Measurement Considerations ......................................................................... | 66 |
Amortised Cost Measurement.......................................................................................... | 69 |
Impairment ....................................................................................................................... | 73 |
Reclassification of Financial Assets................................................................................. | 94 |
Gains and Losses.............................................................................................................. | 101 |
Hedge Accounting.................................................................................................................. | 113 |
Objective and Scope of Hedge Accounting ..................................................................... | 113 |
Hedging Instruments ........................................................................................................ | 116 |
Hedged Items ................................................................................................................... | 122 |
Qualifying Criteria for Hedge Accounting....................................................................... | 129 |
Accounting for Qualifying Hedging Relationships.......................................................... | 127 |
Hedges of a Group of Items ............................................................................................. | 146 |
Option to Designate a Credit Exposure as Measured at Fair Value Through Surplus or Deficit ............................................................................................................. | 152 |
Temporary Exceptions from Applying Specific Hedge Accounting Requirements | 155.1 |
Additional Temporary Exceptions Arising from Interest Rate Benchmark Reform | 155.14 |
Effective Date and Transition................................................................................................. | 156 |
Effective Date .................................................................................................................. | 156 |
Transition ......................................................................................................................... | 158 |
Withdrawal of PBE IFRS 9 .............................................................................................. | 184.1 |
Appendices |
Appendix A: Application Guidance |
Appendix B: Hedges of a Net Investment in a Foreign Operation |
Appendix C: Extinguishing Financial Liabilities with Equity Instruments |
Appendix D: Amendments to Other Standards |
Basis for Conclusions |
Illustrative Examples |
Implementation Guidance |
Comparison with IPSAS 41 |
History of Amendments |
The following is available on the XRB website as additional material: |
IPSASB Basis for Conclusions |
Public Benefit Entity International Public Sector Accounting Standard 41 Financial Instruments is set out in paragraphs 1–184.1 and Appendices A to D. All the paragraphs have equal authority. PBE IPSAS 41 should be read in the context of its objective, the NZASB’s Basis for Conclusions on PBE IPSAS 41, the IPSASB’s Basis for Conclusions on IPSAS 41, the Public Benefit Entities’ Conceptual Framework and Standard XRB A1 Application of the Accounting Standards Framework. PBE IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.