GAAP requires the use of single-step or multi-step formats for the Income Statement but IFRS does not require a specific format for the Income Statement. EQUITY There is no IAS/IFRS for Equity Requirements for measurement and disclosures: a) IAS 1 – Presentation of Financial Statements b) IAS 8 – Accounting Policy, Changes in Accounting Estimates and Errors c) IAS 16 – Property, Plant and Equipment d) IAS 21 – The effects of changes in foreign exchange rates e) IAS 38 – Intangible assets Election and Terms of Office of Board Members, Sampo Group’s Structure and Business Model, Sampo Group’s Risks and Core Risk Management Activities, Asset Allocations and Investment Performance, Appendix 1: Sampo Group Steering Framework and Risk Management Process, Appendix 3: Principles of Investment Portfolio Management, Appendix 4: Valuation for Solvency Purposes, Statement of Profit and Other Comprehensive Income, IFRS, Summary of Significant Accounting Policies, Notes to the Group’s Financial Statements, Summary of Sampo plc’s Significant Accounting Policies, Notes to Sampo plc’s Financial Statements, Approval of the Financial Statements and the Board of Directors’ Report, Share of associate's other changes in equity, Other comprehensive income for the period. Please use Sampo’s Annual Report’s own printing function for printing. IFRS stands for International Financial Reporting Standards and it is the accounting standard system used over 120 countries all over the world. This would require introducing a new impairment test because the current impairment test in IFRS 9 applies to the collectability of contractual payments so is relevant for debt investments.

We think that there are likely to be significant issues with acceptability of impairment models driven by market prices. And many insurance companies are able to defer the application of IFRS 9 until 2021 and thus can apply IFRS 9 and IFRS 17 at the same time. Our research is consistent with the evidence that EFRAG summarises in its DP. ecognising all value changes (upwards and downwards), or none of those changes, in P&L removes, this complexity and inconsistency because. The statement of changes in equity is a reconciliation of the beginning and ending balances in a company’s equity during a reporting period. Deferred taxes are included with assets and liabilities in GAAP statements but are shown as separate line items in IFRS statements.

During discussions that I’ve had with stakeholders on the topic of equity investments, it has become apparent to me that it might be useful to reflect back on the Board’s reasoning when it developed the new requirements for equity investments.

The retained earnings thus include EURm -34 (80) of Nordea's actuarial gains/losses The exchange differences include the share of Nordea's exchange differences EURm 33 (-37).

As previously mentioned, as part of that work, on 1 March 2018, EFRAG published the Discussion Paper (DP) Equity Instruments—Impairment and Recycling in order to gather its stakeholders’ views on the accounting for equity investments that are measured at fair value with changes recognised in OCI, in particular whether the requirements in IFRS 9 could be improved by introducing recycling and impairment for those investments. In other industry sectors, on the basis of a sample of the 10 largest European companies (by market capitalisation) in each sector, equity investments classified as AFS are an insignificant proportion of total assets.

© IFRS Foundation 2017. Indeed, EFRAG reports evidence that some companies used a threshold as high as 80% to determine whether a decline in the asset’s value is considered to be ‘significant’. Board of Directors' Report and Financial Statements 2011, Election and Terms of Office of Board Members, The Objectives, Tasks and Motivation of the Risk Management Process, Credit Risks Related to Reinsurance Counterparties, Operational Risk Management in Sampo Group, Operational Risk Management in Mandatum Life, Sensitivity Analysis of the Capital Position, Consolidated Comprehensive Income Statement, IFRS, Summary of Significant Accounting Policies, Notes to the Group's Financial Statements, Notes to the Parent Company Financial Statements.

All capital changes must be reported in the statement of changes in equity. The PIR normally begins after new requirements have been applied internationally for two years and during the review, the Board considers issues that were important or contentious during the development of the requirements, as well as issues that subsequently come to the Board’s attention. As Nordea's other comprehensive income comprise mainly the currency hedging of net investments and exchange differences, the Group's share of Nordea's other comprehensive income EURm 23 (48) is also included in the Group's exchange differences in the statement of changes in equity. 0000005164 00000 n Bank earnings and regulatory capital management using available for sale securities. As previously discussed, history shows that companies can be very reluctant to identify impairment losses by reference to the market.

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