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FINANCIAL INSTRUMENTS


            Introduction



            • Financial instruments include a wide variety of

                instruments,                         including                   shares,                debentures,

                receivables,                            payables                         and                  derivative

                instruments                         (for           example                    share               options,


                forward exchange contracts and interest rate

                swaps).


            • The accounting treatment and disclosure of

                financial instruments are prescribed in three


                standards:


                    • IAS 32 Financial instruments: Presentation

                    • IFRS 9 Financial instruments

                    • IFRS 7 Financial instruments: Disclosures

            • The IASB has completed its project on IFRS 9 which has

                replaced the entire IAS 39. Impairment and hedging are
                now also incorporated into IFRS 9.

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