Consolidated and Separate Financial Statements

Consolidated and Separate Financial Statements – Introduction Here are the circumstances defined in which an entity applying IFRS in summary presents consolidated financial statements and what the procedures are for preparing those statements in accordance with IFRS in summary. Consolidated and Separate Financial Statements includes guidance Related posts: Separate financial statements Disclosures in consolidated financial …

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Other Financial Instrument Issues – 3

Disclosures An entity applying this section shall make all of the disclosures required in Basic financial instruments incorporating in those disclosures financial instruments that are within the scope of this section as well as those within the scope of Basic financial instruments. In addition, if the entity uses hedge accounting, it shall make the additional …

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Other Financial Instrument Issues – 2

Impairment of financial assets measured at cost or amortised cost Guidance on impairment An entity shall apply the guidance on impairment in the section Impairment of financial assets measured at cost or amortised cost to financial assets measured at cost less impairment in accordance with this section. Derecognition of a financial asset or financial liability Related …

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Other Financial Instrument Issues – 1

Introduction to Other Financial Instrument Issues A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial Instruments in Other Financial Instrument Issues are more complex transactions measured at fair value, with changes in fair value in profit or loss

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Basic Financial Instruments 5

Disclosures Disclosures for financial liabilities measured at fair value through profit or loss The following disclosures make reference to disclosures for financial liabilities measured at fair value through profit or loss. Entities that have only basic financial instruments (and therefore do not apply Other Financial Instrument Issues ) will not have any financial liabilities measured …

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