ASCA Jordan

AMMAN - The International Arab Society of Certified Accountants (IASCA) held a digital training course titled “Significant Modifications on IFRS 9 (financial instruments)” through Microsoft Teams app. 

The training course aimed at introducing the requirements of IFRS 9, financial instruments, that supersede IAS 39, as well as providing an in-depth analysis of IFRS 9, financial instruments, through providing several examples and illustrative graphs to explain the business model and test the properties of the cash flow in terms of classification of financial assets, amortization cost, measurement of fair value for financial assets and financial liabilities, and derecognition of financial assets.     

Moreover, the training course introduced the requirements of the international recognition of financial instruments, along with the classification, measurement, and the subsequent measurement of financial instruments on the date of financial statements. The course addressed the recognition of gains and losses arising from the evaluation of financial assets and the required disclosures. A comparison between the requirements of the new standard and the requirements of IAS 39 was also conducted. At the end of the training course, participants who received certificates of attendance affirmed that the training course matched their practical needs and requirements.