IAS 32 Financial Instruments: Disclosure and PresentationContents This revised Standard supersedes IAS 32 (revised 2000)Financial Instruments: Disclosure and Presentation and should be applied forannual periods beginning on or after 1 January 2005. Earlier application ispermitted. Introduction IN1-IN21 Reasons for Revising IAS32 IN1-IN3 The Main Changes IN4-IN19 Withdrawal of Other Pronouncements IN20 Potential Impact of Proposals in ExposureDrafts IN21 International Accounting Standard 32 FinancialInstruments: Disclosure and Presentation Objective 1-3 Scope 4-10 Definitions 11-14 Presentation 15-50 Liabilities and Equity 15-27 No Contractual Obligation to Deliver Cashor Another Financial Asset 17-20 Settlement in the Entity's Own EquityInstruments 21-24 Contingent Settlement Provisions 25 Settlement Options 26-27 Compound Financial Instruments 28-32 Treasury Shares 33-34 Interest, Dividends, Losses and Gains35-41 Offsetting a Financial Asset and aFinancial Liability 42-50 Disclosure 51-95 Format, Location and Classes of FinancialInstruments 53-55 Risk Management Policies and HedgingActivities 56-59 Terms, Conditions and Accounting Policies60-66 Interest Rate Risk 67-75 Credit Risk 76-85 Fair Value 86-93 Other Disclosures 94-95 Effective date 96-97 Withdrawal of other pronouncements 98-100 Appendix: Application guidance Definitions AG3-AG24 Financial Assets and Financial LiabilitiesAG3-AG12 Equity Instruments AG13-AG14 Derivative Financial Instruments AG15-AG19 Contracts to Buy or Sell Non-FinancialItems AG20-AG24 Presentation AG25-AG39 Liabilities and Equity AG25-AG29 No Contractual Obligation to Deliver Cashor Another Financial Asset AG25-AG26 Settlement in the Entity's Own EquityInstruments AG27 Contingent Settlement Provisions AG28 Treatment in Consolidated FinancialStatements AG29 Compound Financial Instruments AG30-AG35 Treasury Shares AG36 Interest, Dividends, Losses and Gains AG37 Offsetting a Financial Asset and aFinancial Liability AG38-AG39 Disclosure AG40 Financial Assets and Financial Liabilitiesat Fair Value Through Profit or Loss AG40 Approval of IAS 32 by the Board Basis for conclusions Definitions BC4 Financial Asset, Financial Liability and EquityInstrument BC4 Presentation BC5-BC33 Liabilities and Equity BC5-BC6 No Contractual Obligation to Deliver Cashor Another Financial Asset BC7-BC21 Puttable Instruments BC7-BC8 Implicit Obligations BC9 Settlement in the Entity's Own EquityInstruments BC10-BC15 Contingent Settlement Provisions BC16-BC19 Settlement Options BC20 Alternative Approaches Considered BC21 Compound Financial Instruments BC22-BC31 Treasury Shares BC32 Interest, Dividends, Losses and Gains BC33 Disclosure BC34-BC48 Interest Rate Risk and Credit Risk BC34 Fair Value BC35-BC36 Financial Assets Carried at an Amount inExcess of Fair Value BC37 Other Disclosures BC38-BC48 Derecognition BC38 Multiple Embedded Derivative FeaturesBC39-BC42 Financial Assets and Financial Liabilitiesat Fair Value Through Profit or Loss BC43-BC47 Defaults and Breaches BC48 Summary of changes from the exposure draftBC49 Dissenting Opinion DO1-DO3 Illustrative examples Accounting for Contracts on Equity Instruments ofan Entity IE1-IE31 Example 1: Forward to buy shares IE2-IE6 Example 2: Forward to sell shares IE7-IE11 Example 3: Purchased call option on sharesIE12-IE16 Example 4: Written call option on sharesIE17-IE21 Example 5: Purchased put option on sharesIE22-IE26 Example 6: Written put option on sharesIE27-IE31 Entities such as Mutual Funds and Cooperativeswhose Share Capital is not Equity as Defined in IAS32 IE32-IE33 Example 7: Entities with no equity IE32 Example 8: Entities with some equity IE33 Accounting for Compound Financial InstrumentsIE34-IE50 Example 9: Separation of a compoundfinancial instrument on initial recognition IE34-IE36 Example 10: Separation of a compoundfinancial instrument with multiple embedded derivative features IE37-IE38 Example 11: Repurchase of a convertibleinstrument IE39-IE46 Example 12: Amendment of the terms of aconvertible instrument to induce early conversion IE47-IE50 Table of concordance International Accounting Standard 32 FinancialInstruments: Disclosure and Presentation (IAS 32) is set out in paragraphs1-100 and the Appendix. All the paragraphs have equal authority but retain theIASC format of the Standard when it was adopted by the IASB. IAS 32 should beread in the context of its objective and the Basis for Conclusions, the Prefaceto International Financial Reporting Standardsand the Framework for thePreparation and Presentation of Financial Statements. IAS 8 AccountingPolicies, Changes in Accounting Estimates and Errors provides a basis forselecting and applying accounting policies in the absence of explicit guidance. IAS 32 Financial Instruments: Disclosureand Presentation is issued by the International Accounting Standards Board,30 Cannon Street, London EC4M 6XH, United Kingdom.Tel: +44 (0)20 7246 6410 Fax: +44 (0)20 7246 6411 |
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发布于:2012-01-13 10:57
Email: iasb@iasb.org
Web: www.iasb.org Copyright © 2003 International Accounting Standards Committee Foundation (IASCF) ISBN for this part: 1-904230-34-2 ISBN for complete publication (three parts): 1-904230-33-4 International Financial Reporting Standards (including International Accounting Standards and SIC and IFRIC Interpretations), Exposure Drafts, and other IASB publications are copyright of the International Accounting Standards Committee Foundation (IASCF). The approved text of International Financial Reporting Standards and other IASB publications is that published by the IASB in the English language and copies may be obtained from the IASCF. Please address publications and copyright matters to: IASCF Publications Department, 1st Floor, 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7332 2730 Fax: +44 (0)20 7332 2749 Email: publications@iasb.org Web: www.iasb.org All rights reserved. No part of this publication may be translated, reprinted or reproduced or utilised in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or in any information storage and retrieval system, without prior permission in writing from the International Accounting Standards Committee Foundation. The IASB logo/"Hexagon Device", "IAS", "IASB", "IASCF", "IASC", "IFRIC", "IFRS", "International Accounting Standards" and "International Financial Reporting Standards" are Trade Marks of the International Accounting Standards Committee Foundation. |
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发布于:2012-01-13 11:16
Email: iasb@iasb.org
Web: www.iasb.org Copyright © 2003 International Accounting Standards Committee Foundation (IASCF) ISBN for this part: 1-904230-34-2 ISBN for complete publication (three parts): 1-904230-33-4 International Financial Reporting Standards (including International Accounting Standards and SIC and IFRIC Interpretations), Exposure Drafts, and other IASB publications are copyright of the International Accounting Standards Committee Foundation (IASCF). The approved text of International Financial Reporting Standards and other IASB publications is that published by the IASB in the English language and copies may be obtained from the IASCF. Please address publications and copyright matters to: IASCF Publications Department, 1st Floor, 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7332 2730 Fax: +44 (0)20 7332 2749 Email: publications@iasb.org Web: www.iasb.org All rights reserved. No part of this publication may be translated, reprinted or reproduced or utilised in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or in any information storage and retrieval system, without prior permission in writing from the International Accounting Standards Committee Foundation. The IASB logo/"Hexagon Device", "IAS", "IASB", "IASCF", "IASC", "IFRIC", "IFRS", "International Accounting Standards" and "International Financial Reporting Standards" are Trade Marks of the International Accounting Standards Committee Foundation. |
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发布于:2012-01-13 11:16
Introduction
Reasons for Revising IAS 32 IN1. International Accounting Standard 32 Financial Instruments: Disclosure and Presentation (IAS 32) replaces IAS 32 Financial Instruments: Disclosure and Presentation (revised in 2000), and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is permitted. The Standard also replaces the following Interpretations and draft Interpretation: • SIC-5 Classification of Financial Instruments-Contingent Settlement Provisions; • SIC-16 Share Capital-Reacquired Own Equity Instruments (Treasury Shares); • SIC-17 Equity-Costs of an Equity Transaction; and • draft SIC-D34 Financial Instruments-Instruments or Rights Redeemable by the Holder. IN2. The International Accounting Standards Board developed this revised IAS 32 as part of its project to improve IAS 32 and IAS 39 Financial Instruments: Recognition and Measurement. The objective of the project was to reduce complexity by clarifying and adding guidance, eliminating internal inconsistencies and incorporating into the Standards elements of Standing Interpretations Committee (SIC) Interpretations and IAS 39 implementation guidance published by the Implementation Guidance Committee (IGC). IN3. For IAS 32, the Board's main objective was a limited revision to provide additional guidance on selected matters-such as the measurement of the components of a compound financial instrument on initial recognition, and the classification of derivatives based on an entity's own shares-and to locate all disclosures relating to financial instruments in one Standard. The Board did not reconsider the fundamental approach to the presentation and disclosure of financial instruments contained in IAS 32. |
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The Main Changes
IN4. The main changes from the previous version of IAS 32 are described below. Scope IN5. The scope of IAS 32 has, where appropriate, been conformed to the scope of IAS 39. Principle IN6. In summary, when an issuer determines whether a financial instrument is a financial liability or an equity instrument, the instrument is an equity instrument if, and only if, both conditions (a) and (b) are met. (a) The instrument includes no contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the issuer. (b) If the instrument will or may be settled in the issuer's own equity instruments, it is: (i) a non-derivative that includes no contractual obligation for the issuer to deliver a variable number of its own equity instruments; or (ii) a derivative that will be settled by the issuer exchanging a fixed amount of cash or another financial asset for a fixed number of its own equity instruments. For this purpose, the issuer's own equity instruments do not include instruments that are themselves contracts for the future receipt or delivery of the issuer's own equity instruments. IN7. In addition, when an issuer has an obligation to purchase its own shares for cash or another financial asset, there is a liability for the amount that the issuer is obliged to pay. IN8. The definitions of a financial asset and a financial liability, and the description of an equity instrument, are amended consistently with this principle. Classification of Contracts Settled in an Entity's Own Equity Instruments IN9. The classification of derivative and non-derivative contracts indexed to, or settled in, an entity's own equity instruments has been clarified consistently with the principle in paragraph IN6 above. In particular, when an entity uses its own equity instruments 'as currency' in a contract to receive or deliver a variable number of shares whose value equals a fixed amount or an amount based on changes in an underlying variable (eg a commodity price), the contract is not an equity instrument, but is a financial asset or a financial liability. |
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发布于:2012-01-13 11:16
Puttable Instruments
IN10. IAS 32 incorporates the guidance previously proposed in draft SIC Interpretation 34 Financial Instruments-Instruments or Rights Redeemable by the Holder. Consequently, a financial instrument that gives the holder the right to put the instrument back to the issuer for cash or another financial asset (a 'puttable instrument') is a financial liability of the issuer. In response to comments received on the Exposure Draft, the Standard provides additional guidance and illustrative examples for entities that, because of this requirement, have no equity or whose share capital is not equity as defined in IAS 32. Contingent Settlement Provisions IN11. IAS 32 incorporates the conclusion previously in SIC-5 Classification of Financial Instruments-Contingent Settlement Provisions that a financial instrument is a financial liability when the manner of settlement depends on the occurrence or non-occurrence of uncertain future events or on the outcome of uncertain circumstances that are beyond the control of both the issuer and the holder. Contingent settlement provisions are ignored when they apply only in the event of liquidation of the issuer or are not genuine. Settlement Options IN12. Under IAS 32, a derivative financial instrument is a financial asset or a financial liability when it gives one of the parties to it a choice of how it is settled unless all of the settlement alternatives would result in it being an equity instrument. |
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发布于:2012-01-13 11:17
Measurement of the Components of a Compound Financial Instrument on Initial Recognition
IN13. The revisions eliminate the option previously in IAS 32 to measure the liability component of a compound financial instrument on initial recognition either as a residual amount after separating the equity component, or by using a relative-fair-value method. Thus, any asset and liability components are separated first and the residual is the amount of any equity component. These requirements for separating the liability and equity components of a compound financial instrument are conformed to both the definition of an equity instrument as a residual and the measurement requirements in IAS 39. Treasury Shares IN14. IAS 32 incorporates the conclusion previously in SIC-16 Share Capital-Reacquired Own Equity Instruments (Treasury Shares) that the acquisition or subsequent resale by an entity of its own equity instruments does not result in a gain or loss for the entity. Rather it represents a transfer between those holders of equity instruments who have given up their equity interest and those who continue to hold an equity instrument. Interest, Dividends, Losses and Gains IN15. IAS 32 incorporates the guidance previously in SIC-17 Equity-Costs of an Equity Transaction. Transaction costs incurred as a necessary part of completing an equity transaction are accounted for as part of that transaction and are deducted from equity. |
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发布于:2012-01-13 11:17
Disclosure
IN16. The limited exemption in IAS 32 from the requirement to disclose fair value of financial assets and financial liabilities has been conformed to the exemption in IAS 39 from the requirement to measure at fair value some investments in unquoted equity instruments and derivatives linked to such equity instruments. IN17. Disclosure requirements have been added for the following: (a) information about the use of valuation techniques, including the sensitivities of fair value estimates to significant valuation assumptions; (b) information about assets retained in transactions that do not qualify for derecognition in their entirety; (c) the carrying amounts of financial assets and financial liabilities that are classified as held for trading and those designated by the entity upon initial recognition as financial assets and financial liabilities at fair value through profit or loss; (d) the amount of the change in fair value of a financial liability designated as at fair value through profit or loss that is not attributable to changes in a benchmark interest rate; (e) the existence of, and specified information about, issued compound financial instruments with multiple embedded derivative features that have interdependent values; and (f) information about any defaults by the entity on loans payable and other breaches of loan agreements. IN18. The requirement to disclose separate information about financial assets carried at an amount in excess of fair value has been eliminated because it is redundant. This is because IAS 32 requires the disclosure of fair value information to be given in a way that permits comparison with financial assets' carrying amounts. IN19. Disclosure requirements previously in IAS 39 have been moved to IAS 32. |
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发布于:2012-01-13 11:17
Withdrawal of Other Pronouncements
IN20. As a consequence of the revisions to this Standard, the Board withdrew the three Interpretations and one draft Interpretation of the former Standing Interpretations Committee noted in paragraph IN1. Potential Impact of Proposals in Exposure Drafts IN21. [...] Editorial note: Deleted by Amendments to IAS 39, March 2004 with effect for annual periods beginning on or after 1 January 2005. An entity shall apply the amendments to an earlier period when it applies IAS 39 (as revised in 2003) and IAS 32 (as revised in 2003) to that period. Previously "At the time when the Board completed the revised IAS 32 it was still considering the responses to two Exposure Drafts that contain proposals for further amendments to IAS 32. Those proposals are described below. The Board expects that any amendments will be effective no later than the revised IAS 32. (a) ED 2 Share-based Payment proposes the addition of a scope exclusion for financial instruments, contracts and obligations within the scope of ED 2. (b) ED 5 Insurance Contracts proposes to amend the scope of IAS 32: (i) by amending the definition of insurance contracts (insurance contracts are outside the scope of IAS 32); (ii) to clarify which derivatives that are embedded in insurance contracts are within the scope of IAS 32; (iii) to exempt financial instruments with a discretionary participation feature from the requirements on liability and equity classification; and (iv) to delete the scope exclusion for derivatives based on climatic, geological or other physical variables. Additionally, ED 5 proposes to replace "insurance policy" by "insurance contract", and "insurance company" or "insurance entity" by "insurer" where applicable.". |
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发布于:2012-01-13 11:18
Objective
1. The objective of this Standard is to enhance financial statement users' understanding of the significance of financial instruments to an entity's financial position, performance and cash flows. 2. This Standard contains requirements for the presentation of financial instruments and identifies the information that should be disclosed about them. The presentation requirements apply to the classification of financial instruments, from the perspective of the issuer, into financial assets, financial liabilities and equity instruments; the classification of related interest, dividends, losses and gains; and the circumstances in which financial assets and financial liabilities should be offset. The Standard requires disclosure of information about factors that affect the amount, timing and certainty of an entity's future cash flows relating to financial instruments and the accounting policies applied to those instruments. This Standard also requires disclosure of information about the nature and extent of an entity's use of financial instruments, the business purposes they serve, the risks associated with them, and management's policies for controlling those risks. 3. The principles in this Standard complement the principles for recognising and measuring financial assets and financial liabilities in IAS 39 Financial Instruments: Recognition and Measurement. |
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