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How should I classify investments in MMF?
IFRS 1109-B5.7.1
The gains and losses on financial assets or financial liabilities measured at fair value are recognized in profit or loss for the period...
IFRS 1109-BC5.21
IFRS 9 allows an irrevocable choice to recognize changes in the fair value of investments in equity instruments that are not held for trading in other comprehensive income.
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How should investments in MMFs (open-end funds that invest in short-term financial products) be classified according to the standard No. 1109?
지난 달
In the annotation of financial products in category 8 of this file, should the borrowing of the NEGO rights be classified as AC financial liabilities? Or should it be considered as other financial liabilities? Please also provide the basis for your judgment. Previously, it was considered as AC financial liabilities, but I'm having doubts.
I am curious whether it is possible to designate only the risk-free interest rate element of fixed-rate won-denominated bonds as a risk-hedging target.
August
Please tell me about the accounting treatment of fluctuations in cash flow from operations due to the difference between the actual and expected number of incidents, and the method of recognizing insurance revenue.
Donald
According to Standard No. 1109, how should investments in MMFs (open-end funds that invest in short-term financial products) be classified?
The following response was written with reference to K-IFRS within the accounting standards.
MMF investments are generally classified as debt instruments under the Corporate Accounting Standards Statement No. 1110.
Most MMFs are redeemable instruments, but even if they may appear as capital from the issuer's perspective under paragraph 40(3) or 40(4), they are not defined as equity instruments from the holder's perspective.
Additionally, since MMFs provide cash flows based on net asset value that includes gains and losses from asset sales, they do not meet the SPPI requirement. Therefore, if MMFs are not cash-like assets, they are classified as financial assets measured at fair value through profit or loss.
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This is the content searched within K-IFRS under the accounting standards.
1
IFRS 1109-B5.7.1
The profit or loss of financial assets or financial liabilities measured at fair value is recognized in profit or loss for the current period, except in the following cases: (1) when a risk hedging relationship applies (refer to paragraphs 6.5.8 to 6.5.14. Also, if applicable, refer to paragraph 89 to 94 of Statement 1039 that stipulates fair value hedge accounting for interest rate risk portfolio hedging)
(2)
In the case of investments in equity instruments where the entity has chosen to present the profit or loss of such investments in other comprehensive income in accordance with paragraph 5.7.5
(3)
For financial liabilities designated as profit or loss - fair value measurement, where the effect of changes in the credit risk of such liabilities is recognized in other comprehensive income in accordance with paragraph 5.7.7
(4)
As financial assets measured at fair value in other comprehensive income in accordance with paragraph 4.1.2A, where some changes in fair value need to be recognized in other comprehensive income according to paragraph 5.7.10
2
IFRS 1109-BC5.21
IFRS 9 allows an irrevocable choice to recognize changes in the value of investments in equity instruments that are not held for trading in other comprehensive income. The term 'equity instruments' is defined in IAS 32. The IASB noted that in specific circumstances, a puttable financial instrument (or a financial instrument that obligates the issuer to deliver to the counterparty an amount of the issuer's net assets proportional to the ownership interest only upon liquidation of the issuer) can be classified as equity. However, the IASB pointed out that such instruments do not meet the definition of equity instruments.
5 times more accurate
Invector boasts 5 times higher recall and precision in accounting domain search compared to OpenAI's latest models.
This demonstrates an outstanding understanding of the accounting domain and preprocessing capabilities, proving it with the best performance in the country.
Based on accumulated know-how in accounting professional data pre-processing,
we plan to expand the scope into the fields of accounting and tax-related law.
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To automate accounting tasks with AI, not only is AI technology essential,
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