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IFRS 7 Financial
Instruments Disclosures
Joint World Bank and IFRS Foundation train the
trainers workshop hosted by the ECCB
30 April to 4 May 2012
Introduction
IFRS 7 sets out disclosures of financial instruments
The presentation, recognition and measurement of
financial instruments are the subjects of
IAS 32 Financial Instruments: Presentation
IAS 39 Financial Instruments: Recognition and
Measurement
IFRS 9 Financial Instruments (being developed in
phases) is intended to ultimately replace IAS 39.
Disclosure principles
Disclosure requirements
Offsetting
Financial Assets and
Financial Liabilities
Disclosure requirements
10
Respond to comments:
preparers: Cost-benefit scope, class vs.
counterparty, existing disclosure requirements
investors: Need for information about gross and net
exposures
Provide information about exposures in normal course
and in times of stress
Dont reconcile IFRSs and US GAAP but allow entities
to be compared on a like basis
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Proposed disclosure:
Gross
amounts
before
offsetting
Gross amounts
set off
Net amounts
presented
in balance
sheet
(C)
Other amounts
in scope but
not set off in
balance sheet
(D)
Net amounts
[depends on
offsetting model]
[depends on
offsetting model]
[same for
all preparers]
(B)
(E)
(A)
[same for
all preparers]
[depends on
offsetting
model]
Example:
Disclosure
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b.
Gross carrying
Gross
amounts (before amounts
offsetting)
offset
c.
Net amount presented in
statement of financial
position
(a-b)
Category
Derivatives
100
(80)
20
d.
e.
Cash collateral
10
Example:
Disclosure continued
13
b.
Gross carrying
Gross
amounts (before amounts
offsetting)
offset
c.
Net amount presented in
statement of financial
position
(a-b)
Category
Derivatives
90
(80)
10
d.
e.
Cash collateral
10
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Questions or comments?
Expressions of individual
views by members of the
IASB and its staff are
encouraged. The views
expressed in this
presentation are those of the
presenter.
Official positions of the IASB
on accounting matters are
determined only after
extensive due process and
deliberation.
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IFRS Foundation | 30 Cannon Street | London EC4M 6XH | UK. www.ifrs.org
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