Financial Instruments in the context of IFRS are rather interesting. The recognition and measurement / impairment considerations are sitting in IFRS 9, whereas the disclosure requirements are contained in IFRS 7.
All IFRS clients are affected by IFRS 9 simply for having debtors / creditors, and by implication, IFRS 7 Disclosure of Financial Instruments will also need to be considered and applied.
• This session provides an overview of the following aspects of IFRS 7 Financial Instruments Disclosure:
- Summary of the standard / why applied?
- Required info about
Significant financial instruments
• Disclosures that accompany income statement / balance sheet / other, in relation hereto
Nature and extent of risks arising from financial instruments
• Qualitative disclosures
• Quantitative disclosures
• Credit / liquidity / market risk
• NOT addressed:
- Hedging instrument related disclosures
- Transfers of financial instruments assets
