Le magazine du trésorier - n°75 - 3ème trimestre 2011 - (Page 4)

FINANCIAL HIGHLIGHTS LuxNews IFRS 9: FINANCIAL INSTRUMENTS (REPLACEMENT OF IAS 39) Background Since November 2008, the International Accounting Standards Board (“IASB”) has for objective to improve the usefulness for users of financial statements by simplifying the classification and measurement requirements for financial instruments, and aimed to replace IAS 39. The IASB’s project plan for the replacement of IAS 39 consists of three main phases: IFRS 9 Phase 1- Financial instrumentsClassification and measurements : this first part, dealing with the classification and measurement of financial assets, simplifies the recognition of financial assets by requiring such assets to be measured at either amortised cost or fair value, depending on certain criteria. (Further information about the new standard can be found in Ernst & Young publications (which can be downloaded at www.ey.com/ifrs): Supplement to IFRS Outlook Issue 60: IASB publishes IFRS 9- Phase 1 of new standard to replace IAS 39 (November 2009); Implementing phase 1 of IFRS 9: Financial instruments (June 2010); Supplement to IFRS Outlook Issue 89: IASB completes Phase 1of IFRS 9: Financial Instruments- Classification and measurement (October 2010). IFRS 9 Phase 2: Impairment Methodology:This second part, dealing with impairment of financial asset, proposes guidance for determining when credit losses should be recognised for financial assets, such as loans, that are managed in open portfolios. (Further information about the new standard can be found in Ernst & Young’s publications (which can be downloaded at www.ey.com/ifrs): Supplement to IFRS Outlook Issue 95: IASB and US FASB propose a joint approach to accounting for credit losses (January 2011). IFRS 9 Phase 3: Hedge accounting: The IASB has released an Exposure Draft Hedge Accounting (ED) in December 2010, with proposals to substantially simplify hedge accounting. (Further information about the new standard can be found in Ernst & Young publications (which can be downloaded at www.ey.com/ifrs): Supplement to IFRS Outlook Issue 91: Hedge accounting under IFRS 9- all set for change (December 2010); Hedge accounting under IFRS 9- a closer look at the changes and challenges (February 2011). A step forward accounting in hedge At its meetings in July, the International Accounting Standards Board (IASB, the Board) continued its redeliberations on the Exposure Draft Hedge Accounting (the ED) and made a significant step towards releasing a new standard on hedge accounting: The Board has tentatively decided that: A cash flow hedge of a net position can be an eligible hedged item even G 4 http://www.ey.com/ifrs http://www.ey.com/ifrs http://www.ey.com/ifrs

Table des matières de la publication Le magazine du trésorier - n°75 - 3ème trimestre 2011

Sommaire
EDITORIAL - Rating agencies: In the spotlight once again!
FINANCIAL HIGHLIGHTS
INTERVIEW - Gaëtan Dumont, UCB Lux SA
FOCUS
FORUM OF ADVERTISERS
CORPORATE FINANCE - 15 minutes with QlikTech
TREASURERS' ASSOCIATIONS
NEWS

Le magazine du trésorier - n°75 - 3ème trimestre 2011