Upon the release of the new IFRS (International Financial Reporting Standards), KPMG has taken the trouble to publish “First Impressions: Financial Instruments Classifications & Measurements” dated July 2009.
We at KLM believe that this is an extremely useful document for those in the financial industry, especially Accountants, financial controllers or any of in such positions to look at. Other than just new and suggestion implementation, alternative models, FASB (Financial Accounting Standards Board) proposals and measurement principles, the document is also very elaborate when it comes to depicting classifications in decision tree formats.
On April 2009, the Group of Twenty Leaders (G20) called accounting standard setters to propose notions to reduce the complexity accounting for financial instruments.
KPMG - International Financial Reporting Standards: Classifications & Measreuments for Financial Instruments
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