《ACCT2016 S1 2016 Week 7 Financial Instruments - Presentation amp; Disclosure 6pp》.pdfVIP

What is a financial instrument? (AASB132:11) Financial Accounting A • Any contract that gives rise to a financial asset of one entity and a Week 7 S1 2012 financial liability or equity instrument of another entity – Note a contract must exist; if this is not present, then an item is not a financial instrument Accounting for financial instruments – – Excludes some but not all contracts for delivery of certain commodities presentation and disclosure •• FinancialFinancial instrumentsinstruments (AASB132:(AASB132: AG15AG15-AG16)AG16) areare primaryprimary (eg(eg, receivables, payables and equity instruments) or derivative (eg, options, futures, swaps) where derivatives are dependent on the outcome of underlying primary financial instruments