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Thursday, 16 July 2009

Proposal to simplify IAS 39

IASB has proposed for IAS 39 to be simplified with the revision of the fair value rule. Financial instruments will classified to only 2 categories (instead of the 4 categories currently): fair value and amortised cost. There will only be 1 method for measuring impairment.

The other main change is in the area of hedge accounting.

Source: The Edge, Business Times

Updated: 22/7/2009

Labels: Accounting

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: Name: Teh Loo Hai; Location: Kuala Lumpur, Malaysia

Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.

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