IFRS BACKGROUND ASPECTS AND STATEMENTS IN THE ACCOUNTING OF FINANCIAL INSTRUMENTS

Abstract

Some particular relevant issues are determined in the article. They are the theoretical basis as to the recognition and evaluation, accounting devaluation of financial instruments according to IFRS rules. These rules are important elements of international accounting standards’ application in the practice of national enterprises. Qualitative accounting differences of IFRS 9 Financial Instruments (which entered into force and became compulsory to use from 1st January 2018) compared to IAS 39 Financial Instruments: Recognition and Measurement are also revealed and grouped in the research. A number of issues which are related to the usage of IFRS 9 Financial Instruments are analyzed throughout the research. They are: classification amendments of financial instruments, types and methods of financial instruments evaluation (in terms of financial assets and financial liabilities), issues of devaluation and derecognition of financial instruments