IFRS 9 e impairment test: profili teorici ed empirici

This thesis aims to evaluate potential benefits, concerning the new international accounting standard IFRS 9, which became mandatory in the financial statements that adopt the international accounting standards from 1st January 2018, in terms of value relevance compared to the outdated IAS 39 principle. 
The rationale of this study's assessment are the plenty criticisms that have been levelled against IAS 39 and the weaknesses emerged with the 2008 crisis. Indeed, in November 2008, the G-20 recommended to take some measures in order to counteract the anti-stability effects of the financial system, restore growth and guarantee greater transparency, surveillance and regulation of the markets. The IASB quickly received this recommendation, so on July 2009 the draft IFRS 9 Financial instruments: classification and measurements was issued, and in November the first version of the new accounting standard on financial instruments was published. Although The IASB's reaction was immediate, the issuing process of the new standard was gradual and difficult. 
In the first part of this research, the two accounting principles IAS 39 and IFRS 9 are presented, featured and compared; subsequently, there is the presentation of a central theme in the regulation of financing instruments, i.e. the recognition of losses on receivables or the impairment test mechanism and the different notions of significance of value as well as the empirical models underlying the studies. Finally, in the last part the application procedure of the new deterioration mechanism, from five Italian listed banks, are depicted. Therefore, a deepest analysis is carried out which required to dig into 219 consolidated financial statements of listed banks in order to extract useful information about this work’s main aim.
The results display that the new accounting standard IFRS 9 was not a real improvement compared to the outdated IAS 39, since there are factors that go beyond simple accounting rules, such as the complexity, managerial discretion and familiarity with the previous accounting principles.