These materials are from the events covering accounting for the introduction of IFRS 9 to the 2018/19 Accounting Code of Practice (the Code), supported by the CIPFA publication IFRS 9 Financial Instruments - An Early Guide for Local Authority Practitioners, which provides guidance on the application of the accounting requirements of the Code.
The events covered the identification of financial instruments and the new classifications for financial assets and their accounting implications; the accounting approach and impact of the change to an expected losses approach to impairment of financial assets, and the mechanics of making the transition in the 2018/19 financial statements as well as looking at the changes to the disclosure and presentation requirements. Also considered were the risks that IFRS 9 poses to local authority finances and the statutory mitigations that may be forthcoming from MHCLG.