Global Standards for the world economy

Saturday 16 January 2021

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IFRS 9 Financial Instruments (replacement of IAS 39)

Phase I: Classification and measurement

 Financial Instruments—Phase I: Classification and Measurement

The final version of IFRS 9 Financial Instruments was published in July 2014. Classification and measurement was the first phase of the IFRS 9 project.

In March 2008 the IASB and FASB published a Discussion Paper Reducing Complexity in Reporting Financial Instruments. Subsequent to the publication of that Discussion Paper, the IASB decided to divide its project to reconsider the accounting for financial instruments into three phases. Classification and measurement form the foundation of that accounting and therefore are Phase 1.

Project stages

Stage 1: Completed March 2008
Stage 2: Completed March to July 2009 [Exposure Draft (financial assets and financial liabilities)]

Board deliberations

Issued documents

Stage 3: September to October 2009 [IFRS 9 – requirements for financial assets]
Stage 4: December 2009 to April 2010 [Exposure Draft (financial liabilities)]

Board deliberations

Issued documents

Stage 5: July to September 2010 [IFRS 9 – requirements for financial liabilities]
Stage 6: Completed November 2012 [Exposure Draft (Limited amendments to IFRS 9)]
Stage 7: Completed in July 2014 with the publication of IFRS 9 Financial Instruments (2014)