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1、Whatisafinancialinstrument?(AASB132:11)FinancialAccountingA•AnycontractthatgivesrisetoafinancialassetofoneentityandaWeek7S12012financialliabilityorequityinstrumentofanotherentity–Noteacontractmustexist;ifthisisnotpresent,thenanitemisnotafinancialinstrumentAccountingfor
2、financialinstruments––Excludessomebutnotallcontractsfordeliveryofcertaincommoditiespresentationanddisclosure•Financialinstruments(AASB132:AG15Financialinstruments(AASB132:AG15-AG16)areAG16)areprimary(eg,receivables,payablesandequityinstruments)orderivative(eg,options,f
3、utures,swaps)wherederivativesaredependentontheoutcomeofunderlyingprimaryfinancialinstruments•Ifthecontractorcontractualarrangementdoesnotinvolvetheultimatetransferofafinancialasset,itisnotconsideredtobeafinancialinstrument23April20124ReadingWhatisafinancialasset?(AASB1
4、32:11)•HPHCh.14Accountingforfinancialinstruments–excludesections14.4.2-3;14.5.2-3;and,14.6.4ie,excludethesectionsonaccountingforfutures,optionsAfinancialassetisanyassetthatis:andswaps(a)cash;•AASB132FinancialInstruments-Presentation:2-16,28-32,AG3-AG14,AG20-AG26,AG30-A
5、G35(b)anequityinstrumentofanotherentity;•AASB7FinancialInstruments-Disclosure:1-11,16-21,31-42(c)acontractualright:•AASB139FinancialInstruments–RecognitionandMeasurement:1-9,45,47(i)toreceivecashoranotherfinancialassetfrom•Qantas2011AnnualRepp(ort(asillustrationofppres
6、entationanddisclosure))Seeanotherentity;orFinancialStatementspp.49-54;Note1,pp.54,61;Note2,p.63;Notes25-6,pp.83-4;Note34,pp.99-103(ii)toexchangefinancialassetsorfinancial•Duran,P.,‘Qantascreditratingdowngraded’AFR31Jan2012liabilitieswithanotherentityunderconditions•Dur
7、an,P.,‘Westpacsells$2billioninlocalbonds’AFR7Mar2012thatarepotentiallyfavourabletotheentity;or•Duran,P.,‘Bankersvbrokersoverhybridriskscare’AFR5Mar2012(d)acontractthatwillormaybesettledintheentity’sownequity•Easley,D.,O’Hara,M.,2010‘Liquidityandvaluationinanuncertainwo
8、rld’instrumentsJournalofFinancialEconomics97(2010)1-11readSections:1,3(skipthemaths)&4only23April2012223April20125Obj
