23. IAS 39 permits a financial asset to be designated on initial recognition as available for sale or a financial instrument (provided it meets certain criteria) to be designated as a financial asset or financial liability at fair value through profit or loss. Despite this requirement exceptions apply in the following circumstances:
a) An entity is permitted to make an available-for-sale designation at the date of transition to IFRSs.
An entity is permitted to designate, at the date of transition to IFRSs, any financial asset or financial liability as at fair value through profit or loss provided the asset or liability meets the criteria in paragraph 9(b)(i), 9(b)(ii) or 11A of IAS 39 at that date.
excellent post. fascinating reading. i’d be happy to have you submit your article links for any future postings such as these you feel might be useful for your readership.http://www.kitsucesso.com
you know, your blog is very well written, very close to lifehttp://www.kitsucesso.com
so informative site! big thanks!http://www.bobinasplasticas.net