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Syllabus B7. Financial instruments 2

Syllabus B7

Financial instruments 2 10 / 19

• Discuss and account for the initial and subsequent measurement (including impairment in the case of financial assets) of financial assets and financial liabilities in accordance with applicable financial reporting standards and the finance costs associated with them.
• Discuss the conditions that are required for a financial asset or liability to be de-recognised.
• Explain the conditions that are required for hedge accounting to be used.
• Prepare financial information for hedge accounting purposes, including the impact of treating hedging arrangements as fair value hedges or cash flow hedges.
• Describe the financial instrument disclosures required in the notes to the financial statements.