July 2012
Beginner to intermediate
256 pages
6h 54m
English
book
IPSAS Explained: A Summary of International Public Sector Accounting Standards, 2nd Edition
by Thomas Muller-Marques Berger
Content preview from IPSAS Explained: A Summary of International Public Sector Accounting Standards, 2nd Edition
The significance of financial instruments for the entity's financial position and performance; and
The nature and extent of risks arising from financial instruments to which the entity is exposed during the period and at the end of the reporting period, and how the entity manages those risks.
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IPSAS 30: Financial Instruments: Disclosures
Preliminary note
IPSAS 30, Financial Instruments: Disclosure, replaces IPSAS 15, Financial Instruments: Disclosure and Presentation, and should be applied for annual reporting periods beginning on or after 1 January 2013.
Objective
The objective of IPSAS 30 is to require entities to provide disclosures in their financial statements that enable users to evaluate:
The significance of financial instruments for the entity's financial position and performance; and
The nature and extent of risks arising from financial instruments to which the entity is exposed during the period and at the end of the reporting period, and how the entity manages those risks.
Together with IPSAS 28 and IPSAS 29, IPSAS 30 covers all aspects of the accounting for and disclosure of financial instruments.
The IFRS on which the IPSAS is based
IPSAS 30 is based on IFRS 7, Financial Instruments: Disclosures (revised 2009).
Content
Principal definitions
The terms financial instrument, financial asset and financial liability are defined in IPSAS 28. Categories of financial instruments are specified in IPSAS 29. These terms and classifications are used in IPSAS 30 with the same meaning.
Credit risk is the risk that one party to a financial instrument will cause a financial ...
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