IFRS 9 applies one classifi cation approach for all types of fi nancial assets, including those that contain embedded derivative features. Financial assets are therefore classifi ed in their entirety rather than being subject to complex bifurcation requirements. Two criteria are used to determine how fi nancial assets should be classifi ed and measured: (a) the entity’s business model for managing the fi nancial assets; and (b) the contractual cash fl ow characteristics of the