IFRS 9 is the International Accounting Standards Board’s (IASB) response to the financial crisis, aimed at improving the accounting and reporting of financial assets and liabilities. IFRS 9 replaces IAS 39 with a unified standard. The mandatory effective date for implementation is January 1, 2018. IFRS 9 introduces changes across three areas with profound implications […]

A new accounting standard that will eliminate the distinction between operating and finance leases A change in the definition of a lease to capture all assets identified as “right-of-use” assets, creating corresponding financial liabilities After implementation, all leases will be accounted for in a similar way to finance leases today. The reason why financial authorities […]