FLOD and Financial liability: Difference between pages
From ACT Wiki
(Difference between pages)
imported>Doug Williamson (Create the page. Source: Bank of England, ''Fair and Effective Markets Review'', June 2015.) |
imported>Doug Williamson m (Link with Derivative page and categorise the page.) |
||
| Line 1: | Line 1: | ||
IAS 32 defines a financial liability as liability that is any of the following: | |||
'''1.''' A contractual obligation either to: | |||
*Deliver cash or another financial asset to another entity; or | |||
*Exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the reporting entity. | |||
==See also== | |||
*[[ | '''2.''' A contract that will or may be settled in the reporting entity's own equity instruments, and is either: | ||
*A non-derivative for which the entity is or may be obliged to deliver a variable number of the reporting entity's own equity instruments; or | |||
*A derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the reporting entity's own equity instruments. | |||
== See also == | |||
* [[Amortised cost]] | |||
* [[Financial asset]] | |||
* [[Financial instrument]] | |||
* [[Derivative]] | |||
* [[IAS 32]] | |||
* [[Liabilities]] | |||
[[Category:Accounting_and_Reporting]] | |||
Revision as of 17:40, 20 April 2014
IAS 32 defines a financial liability as liability that is any of the following:
1. A contractual obligation either to:
- Deliver cash or another financial asset to another entity; or
- Exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the reporting entity.
2. A contract that will or may be settled in the reporting entity's own equity instruments, and is either:
- A non-derivative for which the entity is or may be obliged to deliver a variable number of the reporting entity's own equity instruments; or
- A derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the reporting entity's own equity instruments.
