IFRS 9 Explained | Financial Instruments | #ifrs #Ifrs9 #accountingstandards #shorts

Description

IFRS 9 Financial Instruments is the accounting standard that explains how an entity should classify and measure financial assets, financial liabilities, and some contracts to buy or sell non-financial items. The IASB issued IFRS 9 on 24 July 2014, and it is effective for annual periods beginning on or after 1 January 2018 with early application permitted.

In this video, we explain IFRS 9 in simple language, including financial instruments, classification and measurement, amortised cost, fair value, impairment, and hedge accounting. IFRS 9 also includes improved requirements that link accounting more closely with an entity’s business model and cash flow characteristics.

You will also understand why IFRS 9 is important for financial reporting, because it replaces IAS 39 for many areas and gives a more structured approach to accounting for financial assets and financial liabilities.

This video is useful for CA, CMA, CS, B.Com, M.Com, MBA, and accounting students who want a clear introduction to IFRS 9 Financial Instruments.

#IFRS9 #FinancialInstruments #AccountingStandards #FinancialReporting
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