Financial Instruments

Question 1

What is the standard

Answer 1

AASB 132

Question 2

Financial instrument

Answer 2

is any contract that gives rise to a financial asset of one entity and a financial liability or equity enstrument of another entity (2 sided party)

Question 3

Financial asset

Answer 3

defined from the holders perspective

Question 4

Financial liabilities

Answer 4

defiend from the issuesr’s perspective

Question 5

Equity instrument

Answer 5

contract that results in the entity retaining a residual interest in assets after deducing liabilities