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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Basic Financial Instruments – 1

Introduction to Basic Financial Instruments 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. Basic Financial Instruments requires an amortised cost model for all basic financial instruments except for investments in non-convertible preference shares and non-puttable ordinary or …

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Basic Financial Instruments and Other Financial Instrument Issues

Basic Financial Instruments and Other Financial Instrument Issues together deal with recognising, derecognising, measuring and disclosing financial instruments (financial assets and financial liabilities). Basic Financial Instruments applies to as it says basic financial instruments and is relevant to all entities. Other Financial Instrument Issues applies to other, more complex financial instruments and transactions. If an …

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Statement of Comprehensive Income and Income Statement

An entity is required to present its total comprehensive income for a period—ie its financial performance for the period—in one or two financial statements. It sets out the information that is to be presented in those statements and how to present it. Presentation of total comprehensive income An entity shall present its total comprehensive income …

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Information to be presented either in the statement of financial position or in the notes

An entity shall disclose, either in the statement of financial position or in the notes, the following subclassifications of the line items presented: property, plant and equipment in classifications appropriate to the entity; trade and other receivables showing separately amounts due from related parties, amounts due from other parties, and receivables arising from accrued income …

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