Liabilities held primarily for the purpose of trading (paragraphs 101(b) and B97)
BCZ285 As part of its Annual Improvements project in 2007, the IASB identified inconsistent guidance regarding the current/non-current classification of derivatives. Some might read the guidance included in paragraph B97 of IFRS 18 as implying that financial liabilities classified as held for trading in accordance with IAS 39 Financial Instruments: Recognition and Measurement (now the 'held for trading' definition in Appendix A of IFRS 9) are always required to be presented as current.
BCZ286 The IASB expects the criteria set out in paragraph 101(b) of IFRS 18 to be used to assess whether a financial liability should be presented as current or non- current. The 'held for trading' category in paragraph 9 of IAS 39 (now the 'held for trading' definition in Appendix A of IFRS 9) is for measurement purposes and includes financial assets and liabilities that may not be held primarily for trading purposes.
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