FRA Intercorporate Investments - IFRS New Standards Question

I found it confusing that the material starts off with one set of rules, and then at the end it says it will be changing soon.

For example, when accounting for Financial Assets the three classifcations (held for trading, available-for-sale, and held-to maturity) will be changed to amortized cost, fair value through profit or loss, and fair value through other comprehensive income.

Which designations will the exam questions consist of? Will our answers need to reflect the old rules or the new rules?

Any insight would be greatly appreacted.


Obviosly the new rules. I believe CFA will tell you which rule to use. However, if no information on the rule is giving, then the new rules are to be used. Its logical.

^ ???

Not a single question in the EOC questions uses the new rules from what I remember. In fact the very first problem set references an “available for sale” security which is no longer used under IFRS 9. With that in mind, and only one small section of the reading devoted to the new rules, how exactly is it obvious?

Terms like “obvious” and “logical” are insulting when replying to someone’s question. To be honest I don’t even think you know what you’re talking about.

I encourage you to pose this question to CFA Institute; their answer will be indisputable.

If you do so, please report back here to let everyone know what they have to say.

Yeah this is a good question, I’d also be eager to hear their response…

Sorry, i dint read your post well, my apologies, i guess i was wrong with my assumption, and truly, after reading that part of the corriculum, i think you have a good point.


If you read the first page (cover) of the study session, there is a box in the corner from which I understand that you only need to know the rules that are applicable at the time when the textbook was written. As of that moment, new rules could come in place but we would not be required to know them.

Am I right?