One significant change in International Financial Reporting Standard (IFRS) 9 Financial Instruments is how firms’ equity financial assets (EFA) are presented. The default EFA presentation is at fair value through profit or loss (FVTPL); however, IFRS 9 allows irrevocable presentation of fair value through other comprehensive income (FVTOCI). Although FVTOCI is the most common presentation for EFA both before and after IFRS 9, there is a significant increase in the use of FVTPL post IFRS 9 via an improvement in disclosure clarity about presentation location. To assess the impact of EFA presentation, we recalculate profitability ratios assuming different presentation locations and find some evidence of significant differences for financial firms. We also provide descriptive evidence that EFA use and presentation behaviour vary between sectors and firm size quartiles. This study expands the literature on EFA accounting and provides a timely response to IFRS 9 post-implementation review by shedding some light on EFA use and presentation locations under IFRS 9.

中文翻译：

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股权金融资产的 OCI 介绍是否重要？

国际财务报告准则 (IFRS) 9金融工具的一项重大变化是公司股权金融资产 (EFA) 的呈现方式。默认的 EFA 列报是按公允价值计入损益 (FVTPL)；然而，IFRS 9 允许通过其他综合收益 (FVTOCI) 不可撤销地列报公允价值。尽管 FVTOCI 是 IFRS 9 之前和之后 EFA 最常见的列报方式，但通过提高列报地点的披露清晰度，IFRS 9 之后 FVTPL 的使用显着增加。为了评估 EFA 呈现的影响，我们重新计算了假定不同呈现位置的盈利率，并发现了一些金融公司存在显着差异的证据。我们还提供了描述性证据，表明全民教育的使用和呈现行为因部门和公司规模四分位数而异。