|
Your SAP Resource » Publications » SAP Experts » Financials Expert Online |
|
|
SAP financial
|
Part of the
|
|
|
|
|
|
|
|
Knowledgebase » Volume 9 (2010) » Update 2 Quick Tip
|
|
Learn about two International Accounting Standards Board amendments to International Financial Reporting Standard 7, and find important SAP Notes and references to boost your knowledge of these regulations. |
Categories: Financials, Governance, Risk, and Compliance (GRC), IFRS, Reporting
In August 2005, the International Accounting Standards Board (IASB) published International Financial Reporting Standard (IFRS) 7, which outlines the disclosure of financial instruments in financial statements. The accounting fiascos during the opening years of the last decade, which resulted in the implosion of many well-known companies and the significant liquidation of shareholder wealth, made such a step imperative.
The overarching objectives of IFRS 7 are to have the reporting enterprise adequately represent its exposure to risk as a consequence of using financial instruments (e.g., hedges, swaps, and forwards) and to have management show how it mitigates such risk.
In March 2009, the IASB published the relevant amendments to IFRS 7, namely IFRS 7.27a and 7.27b. I’ll explain some ways that these amendments affect your IFRS conversion and show you some important references to extend your knowledge.
Would you like to see the full version of this article?If you are an electronic license holder to Financials Expert, please click here to log in. If you would like information about becoming an electronic license holder — and having 24/7 unrestricted access to all articles and content in the Financials Expert online knowledgebase — click here to see the available subscription options. Or call 1-781-751-8799 to speak directly with a subscription and licensing specialist about customized access for you and your team. Isn't your SAP implementation worth world-class information support? |
|
Copyright © 2010 Wellesley Information Services. All rights reserved. Email: customer.service@financialsexpertonline.com.
|
