Classification and Measurement: Limited Amendments to IFRS 9

CLASSIFICATION AND MEASUREMENT: LIMITED AMENDMENTS TO IFRS 9 (PROPOSED AMENDMENTS TO IFRS 9 (2010))
other comprehensive income or financial liabilities that are not
measured at fair value through profit or loss.
Paragraphs 44N, 44S, 44U and 44V are amended. Paragraphs 44UA and 44X are added.
New text is underlined and deleted text is struck through.
Effective date and transition
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44N IFRS 9, issued in October 2010, amended paragraphs 2–5, 8–10, 11, 14, 20, 28, 30
and 42C–42E, Appendix A, and paragraphs B1, B5, B10(a), B22 and B27, added
paragraphs 10A, 11A, 11B, 12B–12D, 20A, 44I and 44J, and deleted paragraphs
12, 12A, 29(b), 44E, 44F, 44H and B4 and Appendix D. An entity shall apply those
amendments when it first applies IFRS 9 as issued in October 2010 subject to the
requirements in paragraphs 7.1.1 and 7.1.1A–7.1.1B of IFRS 9 (2010).
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44S When an entity first applies the classification and measurement requirements of
IFRS 9, it shall present the disclosures set out in paragraphs 44T–44W of this
IFRS if it elects to, or is as required to, provide these disclosures in accordance
with IFRS 9 (see paragraph 8.2.12 of IFRS 9 (2009) and paragraph 7.2.14 of IFRS 9
(2010).
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44U In the reporting period in which IFRS 9 is initially applied, an entity shall
disclose the following for financial assets and financial liabilities that have been
reclassified so that they are measured at amortised cost or, in case of financial
assets, mandatorily measured at fair value through other comprehensive income
as a result of the transition to IFRS 9:
(a) the fair value of the financial assets or financial liabilities at the end of
the reporting period;
(b) the fair value gain or loss that would have been recognised in profit or
loss or other comprehensive income during the reporting period if the
financial assets or financial liabilities had not been reclassified;
(c) the effective interest rate determined on the date of reclassification; and
(d) the interest income or expense recognised.
If an entity treats the fair value of a financial asset or a financial liability as its
amortised cost at the date of initial application (see paragraph 8.2.10 of IFRS 9
(2009) and paragraph 7.2.10 of IFRS 9 (2010)), the disclosures in (c) and (d) of this
paragraph shall be made for each reporting period following reclassification
until derecognition. Otherwise, the disclosures in this paragraph need not be
made after the reporting period containing the date of initial application.
44UA If an entity applies paragraph 7.2.4A of IFRS 9 (2010) because retrospective
assessment of a modified economic relationship between the principal and the
consideration for time value of money and credit risk is impracticable, an entity
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