1 / 8

MASB 24 FRS 7 & 132 FINANCIAL INSTRUMENT: DISCLOSURE & PRESENTATION

MASB 24 FRS 7 & 132 FINANCIAL INSTRUMENT: DISCLOSURE & PRESENTATION. FINANCIAL ASSETS FINANCIAL LIABILITY EQUITY INSTRUMENT. DEFINITION. FINANCIAL INSTRUMENT Any contract that give rise to BOTH a financial asset of the enterprise and financial liability OR equity of ANOTHER enterprise.

timon-mcmahon
Télécharger la présentation

MASB 24 FRS 7 & 132 FINANCIAL INSTRUMENT: DISCLOSURE & PRESENTATION

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MASB 24 FRS 7 & 132 FINANCIAL INSTRUMENT: DISCLOSURE & PRESENTATION FINANCIAL ASSETS FINANCIAL LIABILITY EQUITY INSTRUMENT

  2. DEFINITION FINANCIAL INSTRUMENT • Any contract that give rise to BOTH a financial asset of the enterprise and financial liability OR equity of ANOTHER enterprise

  3. DEFINITION FINANCIAL ASSET • Cash • Contractual right to receive cash or another financial asset from another enterprise • Contractual right to exchange financial instrument with another enterprise under condition that potentially favourable; or • Equity instrument of another enterprise

  4. DEFINITION • EQUITY INSTRUMENT • any contract that evidences a residual interest in the assets of an enterprise after deducting all of its liabilities

  5. DEFINITION FINANCIAL LIABILITY Any liability that is a contractual obligation • To deliver cash or another financial asset to another enterprise; or • To exchange financial instruments with another enterprise under condition that are potentially unfavourable

  6. REPORTING REQUIREMENT FOR FINANCIAL LIABILITY • COMPANIES ACT 1965 • To disclose separately long term and short term • Debentures • Bank loans and overdraft • Liabilities ( other than debentures , bank loans and overdraft) • Other amounts borrowed without security • Disclose the details of the contractual terms

  7. REPORTING REQUIREMENT FOR FINANCIAL LIABILITY FRS 101 Para 51: An entity shall present current and non-current liabilities as separate classifications on the face of its bal. sheet (except when presentation based on liquidity provides reliable and > relevant info See Para 54 & 55.)

  8. Continue….. Para 68: Information to be presented on the face of bal. sheet • Financial liabilities • Any provisions • Non-current interest bearing liabilities (E.g. Bonds, Debentures, Loan Stock) • Additional line item (as required by standard. E.g. trade and other payables, liabilities for current tax, deferred tax liabilities)

More Related