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Financial reporting advisory
Our Financial Reporting Advisory team helps clients understand changes in accounting standards and develop change strategies.
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Advisory Services
Every business is different, the challenges they face vary but all need bespoke solutions. Businesses also share common ground when it comes to striving for reducing costs and improving efficiencies.
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Audit and Assurance Services
Grant Thornton’s audit methodology harnesses proven processes and cutting-edge technology to deliver business benefits.
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Transaction Advisory Services
Transactions are significant events in the life of a business, so the stakes are high for both buyers and sellers.
Classifying and measuring financial instruments
IFRS 9 (2014) ‘Financial Instruments’ fundamentally rewrites the accounting rules for financial instruments. It introduces a new approach for financial asset classification; a more forward-looking expected loss model; and major new requirements on hedge accounting.
While IFRS 9’s mandatory effective date of 1 January 2018 may seem a long way off, companies really need to start evaluating the impact of the new Standard now. As well as the impact on reported results, many businesses will need to collect and analyse additional data and implement changes to systems.
This is the first in a series of publications designed to get you ready for IFRS 9. In this issue, we bring you up to speed on the Standard’s new classification and measurement requirements.
Review the attached pdf for more analysis and examples.