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Title: ACCA Part-2 (F7) IAS 9 _ Financial Instrument
Description: A detailed summary of IAS 9 – Financial Instruments, including key points, key details, and easy-to-remember formulas. Ideal for students preparing for the ACCA Part-2 F7 Financial Reporting exam, focusing on practical understanding and application of IAS 9.
Description: A detailed summary of IAS 9 – Financial Instruments, including key points, key details, and easy-to-remember formulas. Ideal for students preparing for the ACCA Part-2 F7 Financial Reporting exam, focusing on practical understanding and application of IAS 9.
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IFRS 9 - Financial Instruments
Financial Assets under 3 headings
🌺 Financial assets at FVTPL
default classification
includes any financial assets held for trading purposes
initial measurement >> FV excludes transaction costs
🌺 Financial assets at FVTOCI
equity instruments only
initial measurement >> FV plus + transaction costs
equity transfer >> other components of equity to retained earnings
🌺 Financial assets at Amortized cost
debt instruments only
initial measurement >> FV plus + transaction costs
IFRS 9 - Financial Instruments
1
to be effective, the financial asset must pass 2 tests
>> Business model test - to collect in the contractual cash flows associated
with that financial asset
>> Cash flow characteristics test - contractual cash flows collected must
consist solely of payment of interest and principal
using the effective interest method
Reclassification of FA
When an entity changes its business model for managing , should reclassify all
affected FA
...
Equity instruments are not permitted
...
when equity shares are issued, they are recorded at a nominal value
excess consideration >> recorded in Share Premium account
issue cost
IFRS 9 - Financial Instruments
>> written off against Share Premium
3
Title: ACCA Part-2 (F7) IAS 9 _ Financial Instrument
Description: A detailed summary of IAS 9 – Financial Instruments, including key points, key details, and easy-to-remember formulas. Ideal for students preparing for the ACCA Part-2 F7 Financial Reporting exam, focusing on practical understanding and application of IAS 9.
Description: A detailed summary of IAS 9 – Financial Instruments, including key points, key details, and easy-to-remember formulas. Ideal for students preparing for the ACCA Part-2 F7 Financial Reporting exam, focusing on practical understanding and application of IAS 9.