Because only a few months remain until IFRS 9 becomes effective we proudly announce that Solitea OneCore for Microsoft Dynamics is ready for IFRS 9. IFRS 9 is effective for annual periods beginning on or after 1 January 2018 with early application permitted.
IFRS 9 specifies how an entity should classify and measure financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
IFRS 9 requires an entity to recognize a financial asset or a financial liability in its statement of financial position when it becomes a party to the contractual provisions of the instrument. At initial recognition, an entity measures a financial asset or a financial liability at its fair value plus or minus, in the case of a financial asset or a financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial asset or the financial liability.