Abstract
The Importance of Accounting and Fair Value Measurements in IFRS 9 in Achieving the Quality of Accounting Information Disclosed in Private Banks
Highlights
The present economic context is characterized by fast changes, economic mass between countries, globalization and the orientation of countries towards economic correlation. This entire context has an impact on accounting and financial reporting which was reflected in the issuance of IFRS standards, standard no. 9 (Financial instruments: measurement and classification), which implements and applies fair value accounting as a measurement and classification tool
The implementation of IFRS 9 in Iraqi private banks and the accounting of fair value is one of the most important requirements that need to be implemented in Iraq In this regard, our study aims at identifying the appropriateness of the banking environment - the private sector in applying the fair value accounting as a tool for measuring and classifying financial assets and liabilities
According to the international standard IFRS 13, the fair value is the price that can be obtained as a result of the sale of an asset or a payment to convert a liability under a regular process between market participants on the measurement date
Summary
The present economic context is characterized by fast changes, economic mass between countries, globalization and the orientation of countries towards economic correlation. This entire context has an impact on accounting and financial reporting which was reflected in the issuance of IFRS standards, standard no. The study is divided into five sections, the first one includes the introduction of the study, the second section covers the literature review and the third one presents the methodology of the study. The fourth section includes the discussion and the results, and the fifth section presents the conclusions and recommendations
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