2 Introduction to OFS Loan Loss Forecasting and Provisioning Application Pack

International Financial Reporting Standards (IFRS) guidelines have set new requirements for the classification and measurement of financial assets and liabilities.

It specifies two approaches for the measurement of assets, namely, Amortized Cost and the Fair Value Approach. The scope of Oracle Financial Services Loan Loss Forecasting and Provisioning is to focus only on the Amortized Cost Approach.