IASB proposes: improvements to financial instruments accounting.(news&trends)

The International Accounting Standards Board has published for public comment an exposure draft of proposals to improve financial instrument accounting. The proposals form part of the IASB's comprehensive review of financial instrument accounting and, according to the IASB, will significantly reduce complexity; make it easier for investors to understand financial statements; and address how financial instruments are classified and measured. The proposals also answer concerns raised by interested parties during the financial crisis (for example, eliminating the different impairment approaches for available-for-sale assets and assets measured using amortized cost). The IASB plans to finalize the classification and measurement proposals in time for non-mandatory application in 2009 year-end financial statements.

Learn more at www.calcpa.org/IASB_Instruments.

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