Page 8 - Finac 1 - Topic 2 - 2. Financial Instruments
P. 8
FINANCIAL INSTRUMENTS
Outcomes
• Identify and account for financial assets and liabilities.
• Measure financial assets and liabilities on initial recognition and
subsequently.
• Understand when a reclassification may be made and to reclassify
financial assets between different categories.
• Account for the impairment of financial assets.
• Understand when to derecognise financial assets and liabilities.
• Distinguish between equity and liabilities.
• Account for share buy-backs and treasury shares.
• Understand when it is allowed to off-set financial assets and
liabilities.
• Identify and account for derivatives and embedded derivatives.
• Disclose financial instruments in the financial statements.
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