Completed
Date

Thursday 11 April 2019

Time

12:30 pm

Duration

1.5 CDP hours

Session Topic

Implementing the expected-loss model under AASB 9 Financial Instruments

AASB 9 Financial Instruments is live for 30 June balancers. Impairment of financial assets under the expected-credit-loss model is challenging as new concepts are introduced and more forward-looking information is used. The session will focus on key concepts, how to implement them, the judgements necessary and documentation needed to support them. The session will cover:

  • What is the expected-credit-loss model and how does it differ from its loss-incurred counterpart? • Which financial instruments does it apply?
  • When do I apply the new model?
  • How do I apply it?
  • What is a ‘significant increase’ in credit risk?
  • What forward-looking information do I use?
  • How do I apply the 30-day rebuttable presumption? and
  • Benefits of the simplified approach.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board. He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.