The International Accounting Standards Board (IASB) has issued Exposure Draft on Financial Instruments: Classification and Measurement with the objective to reduce complexity and make it easier for investors to understand financial statements, address how financial instruments are classified and measured. The proposals also answer concerns raised by interested parties during the financial crisis (for example, eliminating the different impairment approaches for available-for-sale assets and assets measured using amortised cost).
Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than August 24, 2009. Comments can also be sent by e-mail at firstname.lastname@example.org or email@example.com.