Overview of Financial Instruments under IAS 39

Tuesday, July 17, 2012

www.ChartAcc.com - Financial Instruments are integral part of Financial Statements. In ordinary terms it covers maximum of the line items in Statement of Financial Position and Income Statement.

This post will cover Overview of Financial Instruments, later in series all will be covered from basic to recognition and disclosure level.

Following standards cover Financial Instruments in different aspects:
  • IAS 32    -        Financial Instruments: Presentation
  • IAS 39    -        Financial Instruments: Recognition and Measurement
  • IFRS 7    -        Financial Instruments: Disclosures
  • IFRS 9     -        Complete replacement of IAS 39 w.e.f. 1 January 2013
When Financial Instruments come across, following queries pop-up:

  • Definition
  • Classification
  • Disclosure
  • Valuations and offsetting

for details go to next post continued here.

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