Grundsätze IFRS9

Question 1

What is the intention of IASB with IFRS9?

Answer 1

• politischer Standard
• 1995 Start
• IASB wanted only Fair Value Accounting
  
  • all Financial Assets/Liability as Fair Value, all Changes trough P&L
  • Banks did not like it bc. then P&L would have high volatiliy and that is bad for business as it leads to higher risk premium
• IASB wollte, dass FV Accounting weiter geht wie IFRS 9
• Banken wollten jedoch nicht
• FV mit Änderung in der GuV ermöglicht Darstellung der offenen Risikopositionen in der Bilanz –> Vorstand will sich nicht rechtfertigen müssen

Question 2

What are the intentions for IFRS overall?

Answer 2

• Adressees: Creditors, Equity providers, Investors
• Fair Representation -> keine stille Reserven
• FV of entity as residual value of FV of activa vs. FV of passiva (doesn’t really work that way)
• Focus on Balance Sheet, da FV meist durch OCI
• Principle Based –> Going Concern; Periodisierung; Stetigkeit
  —> keine konkreten Regelungen —> Rule Based

Question 3

What are the principles of HGB in contrast to IFRS?

Answer 3

• principle based –> GoB
• Creditor Protection > Information –> nearly no FV
• HGB only Creditors as addressees, IFRS also Investors and equity providers

Question 4

Why did IASB not want full FV Accounting for Financial instruments?

Answer 4

• Banken wollten FV Accounting nicht haben
• MGT hätte keinen Einfluss auf Wert, da FV rein marktbestimmt ist
• kein reines historical accounting um politisches Ziel nicht zu verfehlen -> Kompromiss
• Vermeidung, indem neue Produkte entwickelt werden, welche die gleiche Wirkung haben aber per Definition kein Derivat sind

Question 5

What is the longterm objective for IASB?

Answer 5

• full FV Accounting
• strongly opposed by banks (and others) in 97 (prior IAS39)

Question 6

What is the short term objective for IASB via IAS39 and IFRS9?

Answer 6

• derivatives recognized on balance
• derivatives measured at FV
• all changes immediately in P&L
  
  • except Cash Flow Hedge