IFRS 9 does not allow reclassification of financial liabilities but allows reclassification of financial assets only it is evident from change in the investor's business model.Accounting for reclassificationAny reclassification is effective prospectively. When an asset is reclassified from:...
1. Financial instruments 1.1 Impairment of financial assets 1.2 Financial liability - FVTPL 1.3 Hedge accounting 2. Defined benefit plans 3. Exchange difference (IAS 21) 3.1 Gain or loss on financial assets (联动IFRS 9) 3.2 Translation to the presentation currency 4. 合并报表 4.1 Exchange diffe...
These standards outline the criteria for reclassifying financial assets and liabilities and prescribe the appropriate accounting treatment. Generally Accepted Accounting Principles (GAAP): In the United States, companies follow the Generally Accepted Accounting Principles (GAAP) issued by the Financial ...