With regard to IFRS 9 specific disclosures are required as follows: Interest revenue calculated using the effective interest method. Impairment losses (including reversals of impairment losses or impairment gains) determined in accordance with Section 5.5 of IFRS 9. Gains and losses arising from the derecognition of financial assets measured at amortised cost. Any gain or loss arising from the difference between the fair value of a financial asset and its previous amortised cost at the date of reclassification, from amortised cost measurement to measurement at fair value through profit or loss.
Any cumulative gain or loss previously recognised in other comprehensive income that is reclassified to profit or loss at the date of reclassification of a financial asset, from measurement at fair value through other comprehensive income to measurement at fair value through profit or loss. Once again there is a strong focus on the profit or loss account and also to some extent the statement of other comprehensive income. Again the concern of the standard setters is to achieve greater transparency in reporting profit or loss becomes apparent.
IFRS 18 | REQUIRED INCLUSION IN THE FINANCIAL STATEMENTS
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