Please read, International Financial Reporting Standards, Financial instruments — Macro hedge accounting, IBOR reform and the effects on financial reporting — Phase 2, Deloitte e-learning on IFRS 9 - classification and measurement, Deloitte e-learning on IFRS 9 - derecognition, Deloitte e-learning on IFRS 9 - hedge accounting, Deloitte e-learning on IFRS 9 - impairment, IBOR reform and the effects on financial reporting — Phase 1, IFRS Foundation publishes IFRS Taxonomy update, European Union formally adopts IFRS 4 amendments regarding the temporary exemption from applying IFRS 9, Educational material on applying IFRSs to climate-related matters, IASB officially adds PIR of IFRS 9 to its work plan, EFRAG endorsement status report 16 December 2020, A Closer Look — Financial instrument disclosures when applying Interest Rate Benchmark Reform – Phase 1 amendments to IFRS 9 and IAS 39 and Phase 2 amendments to IFRS 9, IAS 39, IFRS 4 and IFRS 16, EFRAG endorsement status report 6 November 2020, EFRAG endorsement status report 23 October 2020, Effective date of IBOR reform Phase 2 amendments, Effective date of 2018-2020 annual improvements cycle, IAS 39 — Financial Instruments: Recognition and Measurement, IFRIC 10 — Interim Financial Reporting and Impairment, Different effective dates of IFRS 9 and the new insurance contracts standard, Financial instruments — Effective date of IFRS 9, Financial instruments — Limited reconsideration of IFRS 9, Transition Resource Group for Impairment of Financial Instruments, Original effective date 1 January 2013, later removed, Amended the effective date of IFRS 9 to annual periods beginning on or after 1 January 2015 (removed in 2013), and modified the relief from restating comparative periods and the associated disclosures in IFRS 7, Removed the mandatory effective date of IFRS 9 (2009) and IFRS 9 (2010). Subsequent measurement of financial liabilities, IFRS 9 doesn't change the basic accounting model for financial liabilities under IAS 39. The entity may designate that financial instrument at, or subsequent to, initial recognition, or while it is unrecognised and shall document the designation concurrently. The Standard suggests that ‘investment grade’ rating might be an indicator for a low credit risk. [IFRS 9 paragraph B5.5.35], To reflect time value, expected losses should be discounted to the reporting date using the effective interest rate of the asset (or an approximation thereof) that was determined at initial recognition. An embedded derivative is a component of a hybrid contract that also includes a non-derivative host, with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand-alone derivative. Effective for annual periods beginning on or after 1 January 2022. An approach can be consistent with the requirements even if it does not include an explicit probability of default occurring as an input. In addition, the foreign currency risk of a highly probable forecast intragroup transaction may qualify as a hedged item in consolidated financial statements provided that the transaction is denominated in a currency other than the functional currency of the entity entering into that transaction and the foreign currency risk will affect consolidated profit or loss. This paper aims at analyzing the new rules, concepts and principles introduced by IFRS 9. Under IFRS 9, a financial asset is initially measured at fair value plus transaction costs, unless it is carried at fair value through profit or loss, in which case transaction costs are immediately expensed. The application of both approaches is optional and an entity is permitted to stop applying them before the new insurance contracts standard is applied. 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