Syllabus B5. Financial Instruments - FVTPL / FVTOCI 5 / 15

a) Explain the need for an accounting standard on financial instruments.

b) Define financial instruments in terms of financial assets and financial liabilities.

d) Indicate for the following categories of financial instruments how they should be measured and how any gains and losses from subsequent measurement should be treated in the financial statements: 

ii) fair value through other comprehensive income (including where an irrevocable election has been made for equity instruments that are not held for trading)
iii) fair value through profit or loss
Financial Instruments - FVTPL / FVTOCI