IFRS 9Chapter 1Lesson 1
The scope of IFRS 9: what is in and what is out
Step 1 of 7Learning objectives
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IFRS 9 covers financial instruments but excludes, among others, interests in subsidiaries, leases, insurance contracts and some loan commitments; contracts on non-financial items and the notion of holding for trading complete the picture.
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Learning objectives
- Place IFRS 9 in the financial statements and spot what falls under another standard.
- Tell excluded loan commitments from those that stay in scope.
- Recognise an instrument held for trading.
- Explain the own-use exception for contracts on non-financial items.