Issues of accounting for the impairment of financial instruments

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dc.contributor.authorKvatashidze, Nadejda
dc.contributor.authorSabauri, Levan
dc.date.accessioned2019-11-20T10:28:06Z
dc.date.available2019-11-20T10:28:06Z
dc.date.issued2019
dc.description1. ფასს 9 ფინანსური ინსტრუმენტები. თარგმანი. London. IASB. 2015. 146 გვ. www.saras.gov.ge 2. IFRS 9. Financial Instruments Understanding the basics. PWC. London. 2017. 41 p. https://www.pwc.com/gx/en/audit-services/ifrs/publications/ifrs-9/ifrs-9-understanding-the-. 3. IFRS 9: Financial Instruments – high level summary. Deloitte. London. 2016. 18 p. https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/audit/ifrs-9-financial-instrume . 4. IFRS 9 – Financial Instruments – IAS Plus. London, 2018. 22 p. https://www.iasplus.com/en/standards/ifrs/ifrs9 5. IFRS in practice 2018. IFRS 9 Financial Instruments. BDO. London. 2018. 108 p. https://www.bdo.global/getattachment/Services/Audit-Assurance/IFRS/IFRS-in-Practice/IFRS-9- 6. Bad debt provision under IFRS. "Silvia, IFRSbox". New York. 2019. 22 p. https://www.ifrsbox.com/how-to-calculate-bad-debt-provision-under-ifrs-9/en_US
dc.description.abstractUsers of financial reporting information are interested in whether there is a risk of impairment of financial instruments – the likelihood of emerging a loss due to non-compliance with contractual obligations. To provide the users with a fair information on the financial instrument, IAS 9 „Financial Instruments” requires their testing on impairment . A purpose of impairment-related requirements is to recognize the expected credit loss for all financial instruments in the financial statements. IAS 9 requires to measure an impairment of the financial instruments by the Expected Credit Loss (ECL) model – to recognize the financial assets by amount of the ECL. A purpose of this model is to provide users of financial reporting information with the relevant information on the volume, timing and future uncertainties of a reporting entity. Therefore, under this model, a company should not postpone the recognition of credit losses until there is objective evidence of impairment. Rather, this model requires the recognition of credit losses throughout the existence of a financial asset and the updating of expected losses at each reporting date in order to provide timely a relevant information to stakeholders.en_US
dc.identifier.citationThe 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 198-204
dc.identifier.isbn978-9941-13-890-4
dc.identifier.urihttps://dspace.tsu.ge/handle/123456789/517
dc.language.isogeen_US
dc.publisherIvane Javakhishvili Tbilisi State University Pressen_US
dc.subjectFinancial Instruments, Credit risk, Credit loss, Impairment model, Default rateen_US
dc.titleIssues of accounting for the impairment of financial instrumentsen_US
dc.typeArticleen_US
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