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Description :
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These amendments concern application of the last sentence of paragraph AG76 of IAS 39 that restricts recognition of “day 1” gains or losses on financial instruments. The amendments permit entities to apply “day 1” gain or loss recognition requirements either retrospectively or prospectively to transactions entered into either after 25 October 2002 (the effective date of equivalent US GAAP requirements) or after 1 January 2004 (the date of transition to IFRS by many entities). The effective date of the amendments is the same as that of IAS 39, namely annual periods beginning on or after 1 January 2005.
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Working groups :
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EFRAG Technical Expert Group (EFRAG TEG) -
EFRAG Financial Instruments Working Group ( EFRAG FIWG) -
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Current Project Status :
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Published in Official Journal
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Efrag Output
No 'Efrag Output'
Comment Letters
No 'Comment Letters'
Other Input
No 'Other Input'
News Items
No 'Linked News Items'
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