Class notes
FRK300
- Course
- Institution
Lecture notes of 6 pages for the course FRK300 at UP (NOTES)
[Show more]
Seller
Followlexiclaasen
Content preview
lOMoARcPSD|8949379IAS 32 Notes
Financial accounting 300 (University of Pretoria)
StuDocu is not sponsored or endorsed by any college or university
Downloaded by Lexi Claasen (lexi.claasen13@gmail.com)
, lOMoARcPSD|8949379
1. Introduction
Deals with classification of financial instruments
From perspective of issuer
Focus on substance rather than legal form
2 parties to any financial instrument:
o financial asset of one entity
o financial liability/equity instrument of another entity
Most important elements of a financial asset/liability:
o Must be a contract
o Must be cash flows in accordance with contract
2. Definitions
Financial instrument: any contract that gives rise to a financial asset of one entity and a
financial liability or equity instrument of another entity
Financial asset: any asset that is:
o cash
o equity instrument of another entity
o a contractual right:
to receive cash or another financial asset from another entity; or
to exchange financial assets or financial liabilities with another entity under
conditions that are potentially favourable to the entity
Financial liability: any liability that is:
o a contractual obligation:
to deliver cash or another financial asset to another entity; or
to exchange financial assets or financial liabilities with another entity under
conditions that are potentially unfavourable to the entity
1
Downloaded by Lexi Claasen (lexi.claasen13@gmail.com)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lexiclaasen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.56. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75057 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now