Further progress has been made in exploring presentation and disclosure requirements.
At its September meeting, the Board continued its discussions on financial instruments with characteristics of equity (the ‘FICE project’), having previously considered how to apply the Gamma approach1 to: the classification of derivatives on own equity, asset/equity exchange derivatives and liability/equity exchange derivatives.
The Board focused its discussion on:
“The effort to supplement a binary classification approach with presentation and disclosure improvements is a welcome step in moving the FICE project forward.”
KPMG’s global IFRS financial instruments leader
The macro hedge accounting project was not discussed during the September meeting. For more detail on these discussions, read Issue 32 of our IFRS Newsletter: Financial Instruments.
The next steps for the project will be to consider:
1 See September 2015 IFRS Newsletter: Financial Instruments.
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