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IFRS 9 Impairment Depth Practical Issues for Implementation and Transition To Expected Credit Loss Accounting December 1314, 2016 TorontoConference Agenda Program December 13 9:00 a.m. 9:05 a.m. Opening

How to fill out ifrs 9 impairmentin-depth

How to fill out ifrs 9 impairmentin-depth

1. To fill out IFRS 9 impairment in-depth, follow these steps:
2. Determine the financial instruments that fall under the scope of IFRS 9 impairment.
3. Assess the credit risk of each financial instrument individually or by grouping them based on shared characteristics.
4. Collect relevant data and information about the financial instruments, including historical and forward-looking credit information.
5. Calculate the expected credit loss (ECL) for each financial instrument based on the available information.
6. Consider various scenarios and adjust the ECL estimation accordingly.
7. Monitor the credit risk of the financial instruments continuously, reassessing and updating the ECL as necessary.
8. Disclose the impairment provisions and related information in the financial statements as per the requirements of IFRS 9.
9. It is important to refer to the specific guidelines and interpretations provided by the International Accounting Standards Board (IASB) for detailed instructions on filling out IFRS 9 impairment in-depth.

Who needs ifrs 9 impairmentin-depth?

1. IFRS 9 impairment in-depth is needed by various stakeholders including:
2. - Financial institutions such as banks, credit unions, and insurance companies that hold financial instruments in their portfolios.
3. - Companies that issue or invest in financial instruments such as bonds, loans, derivatives, and trade receivables.
4. - Regulators and regulatory bodies responsible for overseeing financial institutions and ensuring compliance with accounting standards.
5. - Auditors and accounting professionals who need to assess and verify the accuracy of financial statements and impairment provisions.
6. It is important for these stakeholders to understand and apply IFRS 9 impairment in-depth to ensure accurate reporting of credit risk and impairment provisions.

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