AC2101 S1 2014 Seminar 7 Leases (Anil).pptx

Any asset that is a cash b an equity instrument of

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Unformatted text preview: ents (FRS 39) Focus of this seminar: FRS 39 AA306/AC3102 6 3 Financial Instruments: Recognition FRS 39 requires all financial assets and financial liabilities (later seminars) (including all derivatives) to be recognized on the statement of financial position (balance sheet) (FRS 39:9) 7 What is a financial Asset? Any asset that is a.  Cash b.  An equity instrument of another entity c.  A contractual right to §༊  Receive cash or...
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