Munich Personal RePEc Archive

IFRS 7 Financial Instruments: Disclosures - A Closer Look

Muthupandian, K S (2008): IFRS 7 Financial Instruments: Disclosures - A Closer Look. Published in: The Management Accountant , Vol. 43, No. 4 (April 2008): pp. 228-231.

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Abstract

The International Accounting Standards Board issued the International Financial Reporting Standard 7, Financial Instruments: Disclosures. The objective of IFRS 7 is to provide more transparency to financial statement users on an entity’s exposure to risks and how those risks are managed. An entity must group its financial instruments into classes of similar instruments and, when disclosures are required, make disclosures by class. This article presents a closer look of the standard (objective, scope, and disclosures).

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