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Financial Accounting 21 > 9. Financial instruments > Flashcards

9. Financial instruments Flashcards

1
Q
  1. Wat is the definition of a financial instrument?
A

A contract that gives rise to a financial asset in one entity and a financial liability or equity in another

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2
Q
  1. What are 3 characteristics of derivatives?
A

Value changes based on underlying variable
Minimal or no initial investment
Settled in the future

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3
Q
  1. In derivatives what are 4 types of financial assets?
A

Amortised cost
Fair value through profit or loss (FVTPL)
Fair value through OCI (FVTOCI) investment in Equity
Fair value through OCI (FVTOCI) other than investment in Equity

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Financial Accounting 21 (17 decks)

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