IASB Update September 2009
Monday, September 28th, 2009Here is the latest updates from the International Accounting Standards Board (IASB) for the month of September.
This IASB Update is a staff summary of the tentative decisions reached by the Board at a public meeting. As a project progresses, the Board can, and sometimes does, modify its earlier tentative decisions. Tentative decisions do not change existing requirements until those decisions are incorporated in a new or amended standard
Financial instruments: Replacement of IAS 39
The Board is addressing the replacement of IAS 39 Financial Instruments: Recognition and Measurement in three main phases:
- Phase 1 – Classification and Measurement;
- Phase 2 – Impairment (methodology); and
- Phase 3 – Hedge Accounting.