Briefing session on IASB Supplemental Document to the November 2009 IASB Exposure Draft on Financial Instruments: Amortised Cost and Impairment

10 March 2011

Briefing session on IASB Supplemental Document to the November 2009 IASB Exposure Draft on Financial Instruments: Amortised Cost and Impairment

MASB held a briefing for the financial institutions sector with the objective of providing the industry an overview of the supplemental document as well as to solicit feedback on the proposed approaches to recognise impairment losses.  The supplemental document introduced the concept of good book / bad book for the classification of the assets and associated with each classification, proposals to recognise credit losses.   The briefing was well attended by 78 participants with representations from members of the ABM, AIBIM, MIBA as well as the accounting profession.