Classification and Measurement: Limited Amendments to IFRS 9

CLASSIFICATION AND MEASUREMENT: LIMITED AMENDMENTS TO IFRS 9 (PROPOSED AMENDMENTS TO IFRS 9 (2010))
the sum of the fair values of the components (ie the non-derivative host and the
embedded derivative) at the end of each comparative reporting period if the
entity restates prior periods (see paragraph 7.2.14).
7.2.6 At the date of initial application an entity shall recognise any difference between
the fair value of the entire hybrid contract at the date of initial application and
the sum of the fair values of the components of the hybrid contract at the date of
initial application:
(a) in the opening retained earnings (or other component of equity, as
appropriate) of the reporting period of initial application. if the entity
initially applies this IFRS at the beginning of a reporting period, or
(b) in profit or loss if the entity initially applies this IFRS during a reporting
period.
...
7.2.14 Despite the requirement in paragraph 7.2.1, an entity that adopts the
classification and measurement requirements of this IFRS for reporting periods:
(a) beginning before 1 January 2012 need not restate prior periods and is not
required to provide the disclosures set out in paragraphs 44S–44W of
IFRS 7;
(b) beginning on or after 1 January 2012 and before 1 January 2013 shall
elect either to provide the disclosures set out in paragraphs 44S–44W of
IFRS 7 or to restate prior periods; and
(c) beginning on or after 1 January 2013 shall provide the disclosures set out
in paragraphs 44S–44W of IFRS 7 but. The entity need not restate prior
periods. The entity may restate prior periods if, and only if, this is
possible without the use of hindsight.
If an entity does not restate prior periods, the entity shall recognise any
difference between the previous carrying amount and the carrying amount at
the beginning of the annual reporting period that includes the date of initial
application in the opening retained earnings (or other component of equity, as
appropriate) of the annual reporting period that includes the date of initial
application. However, if an entity restates prior periods, the restated financial
statements must reflect all of the requirements in this IFRS.
...
Entities that have applied early IFRS 9 issued in 2009,
IFRS 9 issued in 2010 or [draft] IFRS 9 incorporating
Chapter 6 Hedge Accounting issued in [year] before
[date to be inserted after exposure] 11
7.2.16 An entity shall apply the transition requirements in paragraphs 7.2.1–7.2.15 at
the relevant date of initial application. In other words, an entity shall apply
paragraphs 7.2.4–7.2.11 if it applies IFRS 9 (issued in 2009) or, not having done
so, when it applies IFRS 9 (issued in 2010) in its entirety or, not having done so,
11 The date that is six months after the completed version of IFRS 9 is issued.
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