Research On The Effect And Countermeasures Of The IFRS 9 Standards Coming Into Force Of XX Bank

In July 2014,the International Accounting Standards Board issued IFRS 9-financial instruments,which will take effect on January 1,2018 and replace the current EFRS 39-financial instruments.Compared with the previous financial instrument accounting standard,the new financial instrument accounting standard simplifies the classification of financial assets,introduces the expected credit loss method as the basis of the impairment of financial instruments,simplifies the accounting treatment of embedded derivatives,and improves the applicability of hedge accounting.The IFRS 9 standards require companies listed both at home and abroad,as well as those listed overseas and using international reporting standards or accounting standards for enterprises to be implemented from January 1,2018.Other domestic listed enterprises will be implemented from January 1,2019,while non-listed enterprises will be implemented from January 1,2021.In order to meet the requirements of the new accounting standards,commercial banks need to transform the existing system and products.This paper selected xx bank as the research object as a share listed company,which has been adapted to IFRS 9 on January 1,2018,the new financial instrument standard came into force.This paper takes this as the starting point to explore the impact of the new financial instrument standards.On the one hand,combined with management consulting experience,the existing products and businesses are sorted out item by item,the existing business processes and accounting methods are understood,and the impact of IFRS 9 on the business layer of xx bank is explored.On the other hand,through in-depth analysis of the public data of xx bank and comparative analysis with the control group,this paper explores the effect of IFRS 9 on the reporting layer of xx bank,so as to draw analysis conclusions from the two aspects of accounting treatment and operating conditions.The research focus of this paper is to analyze the difficulties and accumulated experience in the conversion process of xx bank in IFRS 9 and the problems after the implementation of IFRS 9 according to the characteristics of the new financial instrument standards,and put forward reasonable Suggestions.In the process of proposing and solving this problem,it can provide some reference for xx bank to better adapt to IFRS 9 and enrich the theoretical basis of IFRS 9.On the one hand,combined with management consulting experience,the existing products and businesses are sorted out item by item,the existing business processes and accounting methods are understood,to explore the impact of IFRS 9 on the business layer of xx bank.On the other hand,an in-depth analysis of the public data of xx bank was conducted,to explore the effect of IFRS 9 on the reporting layer of xx bank.Thus,from the accounting treatment and the management situation two aspects draw the analysis conclusion.Eventually,according to the characteristics of the new financial instrument criterion,put forward reasonable suggestions.