IFRS 9 Financial Instruments: A Guide for Local Authority Practitioners

IFRS 9 2019 cover

Summary

This publication provides guidance on the application of the Code of Practice on Local Authority Accounting in the UK’s provisions for financial instruments, adopting IFRS 9 Financial Instruments. It covers recognition, measurement, treatment of gains and losses, derecognition and presentation and disclosure in the financial statements.

Format

Online

Published

Dec 2019

Author

CIPFA

£295.00 excl VAT

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The Code of Practice on Local Authority Accounting in the UK adopted IFRS 9 Financial Instruments in its 2018/19 edition, with an application date of 1 April 2018.

In order to allow practitioners to prepare in good time, CIPFA issued guidance in 2017 in advance of the 2018/19 Code being published, based on a companion publication to the 2017/18 Code: Forthcoming Provisions for IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers in the Code of Practice on Local Authority Accounting in the United Kingdom 2018/19.

This publication updates the 2017 guidance to reflect:

  • provisions in the 2018/19 Code that were not included in the Forthcoming Provisions publication
  • changes to the 2019/20 Code resulting from amendments to IFRS 9
  • experience of implementing IFRS 9 in the 2018/19 annual accounts.
This guidance provides comprehensive coverage of the requirements of the Code, including recognition, measurement, treatment of gains and losses, derecognition and presentation and disclosure in the financial statements.  It also covers statutory reversals and the continuing impact of transitional provisions.

Each of these areas is supported fully by practical tips, worked examples and illustrations.

This publication is only available online.

Customers will need to register and login to CIPFA’s website to access the publication. Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA’s Publications Department.


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