Scope of the exception

Learning objectives

• Distinguish the contracts covered by the exception (within the scope of IFRS 9) from those that are not.L4

Normative references

• IFRS 13 §52The exception applies to contracts within the scope of IFRS 9 (or IAS 39), regardless of whether they meet the definitions of financial assets or financial liabilities in IAS 32.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• Which contracts fall within the scope of the portfolio exception?L4
• Mercanelle trades a forward contract to buy copper that falls within the scope of IFRS 9 but does not meet the IAS 32 definition of a financial asset or liability (case data). The entity otherwise manages its net market-risk exposures in a documented way. Can this contract be part of the group measured on the basis of a net position?L4