Income and expenses arising on financial instruments with ...
Income and expenses arising on financial instruments with a negative yield--presentation in the statement of comprehensive income (IAS 39 Financial Instruments: Recognition and Measurement and IAS 1 Presentation of Financial Statements)--January 2015
The Interpretations Committee discussed the ramifications of the economic phenomenon of negative effective interest rates for the presentation of income and expenses in the statement of comprehensive income.
The Interpretations Committee noted that interest resulting from a negative effective interest rate on a financial asset does not meet the definition of interest revenue in IAS 18 Revenue [IAS 18 has been withdrawn. Paragraph 4.2 of the Conceptual Framework for Financial Reporting contains a definition of income], because it reflects a gross outflow, instead of a gross inflow, of economic benefits. Consequently, the expense arising on a financial asset because of a negative effective interest rate should not be presented as interest revenue, but in an appropriate expense classification. The Interpretations Committee noted that in accordance with paragraphs 85 and 112(c) of IAS 1 Presentation of Financial Statements, the entity is required to present additional information about such an amount if that is relevant to an understanding of the entity's financial performance or to an understanding of this item.
The Interpretations Committee considered that in the light of the existing IFRS requirements an interpretation was not necessary and consequently decided not to add the issue to its agenda.
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- critical elements in nonprofit financial statements
- income and expenses arising on financial instruments with
- annual financial statements of siemens ag
- illustrative financial statements kpmg
- partnership k 1 what you need to know in light of the tax
- confidential real property income and expense
- income statement format and disclosures 2007 conference
- consolidated financial statements consolidated
- accounting cheat sheet
Related searches
- review article on financial management
- articles on financial statement analysis
- on demand prompts with passages
- best books on financial management
- calculate payments on a loan with interest
- doing bonds on financial calculator
- ifrs 9 financial instruments pdf
- income and expenses form
- family income and financial aid
- common surgical instruments with names
- other income on financial statements
- revenue and expenses report