IFRS 9 (financial assets)

CFA Level II
#1

Anyone have any thoughts on how Level 2 June 2015 is going to handle the new IFRS 9 rules for classification of Financial Assets?

Do we still need to know the old rules of the portfolio approach (held-for-trading, available-for-sale, and held-to-maturity)?

Or are we expected to memorize the new and the old rules…I’m afraid that is the answer.

#2

IFRS 9 will be applied at the earliest by 2018. So still the provisions of IAS 39 are applied on financial asset cartegories. Accordingly, the answer is yes, you still have same asset classification rules, FVtPL (held-for trading), AFS, HTM and Loans and Receivables.