Classification and measurement of financial instruments – narrowing the GAAP

Overview

At their joint meeting on 17 April 2012, the International Accounting Standards Board
(IASB) and the Financial Accounting Standards Board (FASB) (collectively, the Boards)
made tentative decisions to more closely align their models, including alignment of the
following:
• Business model assessment for the amortised cost classification category of financial
assets
• Bifurcation requirements for financial assets and financial liabilities
The Boards intend to issue their respective exposure drafts on classification and
measurement in the second half of 2012.

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