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IFRS 9 (Change in Accounting Policy)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 9 (Change in Accounting Policy)

  • This topic has 2 replies, 2 voices, and was last updated 2 years ago by Stephen Widberg.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • August 23, 2022 at 2:30 pm #664061
    Abdullah
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    If an entity previously classify an instrument FVTPL but company changes the policy and now classify it at Amortized Cost.
    Will this be considered as change in accounting policy and should be treated as retrospectively?

    August 24, 2022 at 5:51 pm #664165
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Unless they have made a mistake any change in classification would be as a result of a change in business model. So I would not see this as a change in accounting policy.

    August 24, 2022 at 5:52 pm #664166
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Unless they have made a mistake any change in classification would be as a result of a change in business model. So I would not see this as a change in accounting policy.
    I would not get too hung up about this for the exam. 🙂

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