IAS Plus newsletter - Special Global Edition – IFRS 7 Financial Instruments: Disclosures
Published on:
07 Oct 2005
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On 18 August 2005, the International Accounting Standards Board (IASB) issued IFRS 7 Financial Instruments: Disclosures.
The Standard:
- adds new disclosures about financial instruments to those currently required by IAS 32 Financial Instruments: Disclosure and Presentation
- replaces the disclosure requirements currently imposed on financial institutions by IAS 30 Disclosures in the Financial Statements of Banks and Similar Financial Institutions
- puts all of those financial instruments disclosures together in a new combined Standard. The remaining parts of IAS 32, which will be renamed Financial Instruments: Presentation, deal only with presentation matters, including classifying instruments as debt or equity, compound financial instruments, offsetting, and treasury shares.
