Issues of accounting for the impairment of financial instruments

dc.contributor.authorKvatashidze, Nadejda
dc.contributor.authorSabauri, Levan
dc.description1. ფასს 9 ფინანსური ინსტრუმენტები. თარგმანი. London. IASB. 2015. 146 გვ. 2. IFRS 9. Financial Instruments Understanding the basics. PWC. London. 2017. 41 p. 3. IFRS 9: Financial Instruments – high level summary. Deloitte. London. 2016. 18 p. . 4. IFRS 9 – Financial Instruments – IAS Plus. London, 2018. 22 p. 5. IFRS in practice 2018. IFRS 9 Financial Instruments. BDO. London. 2018. 108 p. 6. Bad debt provision under IFRS. "Silvia, IFRSbox". New York. 2019. 22 p.
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.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
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