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FINANCIAL INSTRUMENTS
Prescribed Study Material
• Chapter on financial instruments in Descriptive
Accounting, 20th edition
• IAS 32 Financial Instruments: Presentation
• IAS 32 is examinable at level 3 except for the
following:
• Level 2: Compound financial instruments
• EXCLUDED: Puttable financial instruments and obligations
arising on liquidation (IAS 32, par.16A–16F)
• IFRS 9 Financial Instruments - examinable at level 3
• IFRS 7 Financial Instruments: Disclosure
• examinable at level 2
• is examinable in the context of an entity that is not a
financial institution
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