What is IAS 39 Financial Instruments Recognition and Measurement?
What is IAS 39 Financial Instruments Recognition and Measurement? IAS 39 Financial Instruments: Recognition and Measurement outlines the requirements for the recognition and measurement of financial assets, financial liabilities, and some contracts to buy or sell non-financial items. What are the criteria for the derecognition of a financial asset? A financial asset should be derecognized if either the entity's contractual rights to the asset's cash flows have expired or the asset has been transferred to a third party (along with the risks and rewards of ownership). What are the two categories required by IAS 39 for classification of financial liabilities?...