Basic Financial Instrument Disclosures Under FRS 102

business continuity plan One of the changes users of financial statements will notice under FRS 102 is the disclosures now required with regard to basic financial instruments. The notes to the financial statements will disclose the following:
  • Financial assets measured at fair value through profit and loss
  • Financial assets that are debt instruments measured at amortised cost
  • Financial assets that are equity instruments measured at cost less impairment
  • Financial liabilities measured at fair value through profit and loss, financial liabilities that are not held as part of a trading portfolio and are not derivatives shall be shown separately
  • Financial liabilities measured at amortised cost
  • Loan commitments measured at cost less impairment
An accounting policy will also be disclosed which outline how each category of financial instrument will be treated in the financial statements.

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