The implications of IFRS 9 - financial instrument standard expected credit loss model implementation on financial statements of banks of Azerbaijan republic

On 24 July 2014 International Accounting Standards Board issued brand new IFRS 9 – Financial Instruments standard. The practical application date is determined 1 January 2018, with early adoption permitted. The research aims to identify the main implementation results of the new IFRS 9 – Financial Instrument ECL model on the banks' financial statements. The primary research method utilized during the research process is the applied research method, i.e., the consequences are identified by direct application of the ECL model's requirements to the three leading banks. As this research is done for the first time in Azerbaijan, the conclusion reached will be the information base for future research progress.