Treasury research & insights

IASB revises the Conceptual Framework: PwC In brief

The IASB has revised its Conceptual Framework. This will not result in any immediate change to IFRS, but the Board and Interpretations Committee will use the revised Framework in setting future standards. It is therefore helpful for stakeholders to understand the concepts in the Framework and the potential ways in which they might impact future guidance.

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Retail and consumer (‘R&C’) industry supplement for IFRS 16 ‘Leases’

The retail and consumer industry is heavily impacted by IFRS 16 with a median increase in debt of almost 100%. This In depth supplement highlights the most significant challenges for the retail and consumer industry including renewal options, variable payments and key money.

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IFRS 9 disclosures by banks in 2018 interim reporting and transition documents

Many banks are about to plunge into the world of IFRS 9 reporting with application in interim financial statements in 2018. Some banks also plan to issue a separate transition document on key impacts of IFRS 9 at and beyond adoption. These interim reports and transition documents will be the focus of attention from investors, regulators and other key stakeholders. There’s no prescription for how to present this information so we’ve developed this publication help banks navigate that transition.

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Tomorrow’s world: a revolution begins

Companies and other decision-makers use information to navigate through a complex world of risks and opportunities, amid technological advances that are unprecedented in their speed and impact. The world of information and trust is being revolutionised. What do companies and stakeholders need to consider to secure their place in tomorrow’s world?

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Hedge accounting – should I stay or should I go now?

Companies can choose whether to adopt IFRS 9 hedge accounting with the rest of IFRS 9 or continue under IAS 39. If you go there will be trouble but if you stay there might be double! This blog explains what difference it would make for a corporate and the relative merits of staying or going.

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Hong Kong IPO market - 2017 interim review and forecast

Hong Kong’s IPO market remained active in the first half of 2017, achieving increases in both number of listings and funds raised. Watch Eddie Wong, Capital Markets Services Partner and Benson Wong, Entrepreneur Group Leader of PwC Hong Kong share their views on the Hong Kong IPO market.

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IASB confirms accounting treatment for debt modifications under IFRS 9

The Board has confirmed the accounting treatment under IFRS 9 for modifications of financial liabilities carried at amortised cost. A gain or loss should be recognised in profit or loss for modifications of such financial liabilities that do not result in derecognition.

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IFRS 9, Financial Instruments - Understanding the basics

IFRS 9 responds to criticisms that IAS 39 is too complex, inconsistent with the way entities manage their businesses and risks, and defers the recognition of credit losses on loans and receivables until too late in the credit cycle. Our guide, IFRS 9, Financial Instruments: Understanding the basics, walks you through the new accounting rules.

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IFRS 9, Financial instruments: Understanding the basics

IFRS 9 responds to criticisms that IAS 39 is too complex, inconsistent with the way entities manage their businesses and risks, and defers the recognition of credit losses on loans and receivables until too late in the credit cycle. Our guide, IFRS 9, Financial Instruments: Understanding the basics, walks you through the new accounting rules.

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IFRS / HKFRS News

Pension disclosure, year end disclosure on IFRS 9, what is a contract under IFRS 15, Cannon Street update on insurance, disclosure initiative, conceptual framework and FICE, leases lab introduces discount rate, IFRS 9 article explains significant increase in credit risk and practical implications of IFRIC rejections related to IAS 27 'Consolidated and separate financial statements'

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IFRS / HKFRS News

Ten reminders for interim reporting, alternative performance measures - under scrutiny by regulators, definition of a business, implication of IFRS 2 "Share-based Payment" amendments, IFRS 9 "Financial Instruments" Q&As, Cannon Street Press, leases lab for impact on systems and processes, and practical implications of IFRIC rejections related to IAS 21 "The effects of changes in foreign exchange rates"

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IFRS 16, 'Leases' - Implications for the airlines industry - PwC In the Spotlight

All lease contracts will be landing on the balance sheet of the lessee under IFRS 16. This change is estimated to add trillions of dollars of lease obligations to the balance sheets of airlines word-wide. Most lease obligations are denominated in US-Dollars, with many airlines exposed to additional foreign currency volatility.

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Basel Committee expects high quality application of the IFRS 9 expected credit loss model

PwC insight on the guidance issued by the banking supervision committee on the implementation of the expected credit loss model under IFRS 9. A wide range of relevant, reasonable and supportable forward looking information should be used. Major international banks should use as few of the practical expedients in the standard as possible.

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In Brief - EDTF publishes IFRS 9 Impairment disclosure recommendations for banks

The Enhanced Disclosure Task Force (EDTF) has published a report with recommended disclosures in banks’ annual reports to help the market understand an expected credit loss (ECL) approach to provisioning for impairment, such as that introduced in IFRS 9 ‘Financial Instruments’.

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Hedge accounting under IFRS 9, now aligned with risk management activities

More companies may be able to use hedge accounting under IFRS 9. More instruments can be used to hedge portions can be hedged in some circumstances and effectiveness testing requirements have been eased. Designation and documentation requirements remain in place. Practical guide from PwC.

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Go in depth with PwC insight into the new classification and measurement requirements of IFRS 9

A number of significant judgements are required by the new standard. There are fewer categories for classification and measurement under IFRS 9 but application isn’t necessarily any simpler. Classification under IFRS 9 for investments in debt instruments is driven by a bank’s business model and the contractual cash flow characteristics of the related instruments.

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Moving from incurred to expected credit losses for impairment of financial assets is a game changer

The expected credit loss model applies to all entities and relies on a relative assessment of credit risk. For financial institutions it may mean changes to credit management systems as well as accounting policies. Certain practical expedients and simplifications are available. Some are optional, some are only available in limited circumstances. We share insights on the new requirements.

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Contact us

Ian Farrar
China and Hong Kong Corporate Treasury Leader
Tel: +[852] 2289 2313
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Qing Ni
Funds Audit Partner, PwC China Private Equity Group
Tel: +[86] (10) 6533 2599
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Jonathan Chen
Accounting Advisory Services Leader
Tel: +[86] (21) 2323 3791
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