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Dear Sir
i am confused regarding the updates in IAS 39 . I appeared in last p2 exam and unfortunately failed to get 50 marks . In last session My teacher taught IAS 39 four categories. but I ve seen his notes again and there is change it has now three categories and some changes in treatment of AFS. i wanted to know if i go in exams with the old IAS 39 which has four categories will i get marks? On OT notes the IAS has same stuff which i studied in last session.. I am confused and dont know whats right.. kindly guide me I shall be very gratefulThank You
Ali RehmanI think that the revised version of IAS 39 ( IFRS 9 ? ) is also included in the OT course notes in a separate chapter towards the end of the course notes. These are not in the syllabus for June 2011 ( you can check that for yourself, please ) but if the topic is asked in June, it would be pretty smart to be able to identify the changes and why they were thought necessary.
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Sir I didnt find any IFRS 9 in notes.. and OT notes are not showing any changes in IAS 39 but kaplan book is reflecting the changes..so what do u advice ?
hi mike
i want to ask is IAS 39 examinable in june 2011?? if yes,then what would be the scenario??? as IFRS 9 is replacing IAS 39 cutting short the classification of assets to two categories…..are we suppose to mention both sets of classifications in exam?? i.e the older one “HALF” and the revised one FVTPL n AMORTIZED COST…..please guide me im very confused….thanks
Syed Zeeshan
I could imagine a question like “Why was IFRS9 necessary and what changes were introduced when compared with IAS 39?”
I don’t think that it’s likely to be a full 25 marks – possibly 8 or 9 marks in a question 4 as part of current issues.
Because it’s not yet effective ( early adoption is only “encouraged” ) I can’t see that “the directors have treated …. under IAS 39” and you being put into the position where you have to advise the directors that “they are wrong and the correct treatment should be …. “
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