International Accounting Standards
IAS 32 Financial Instruments: Disclosure and Prentation (revid 1998)
视频没有声音In March 1995, the IASC Board approved IAS 32, Financial Instruments: Disclosure and Prentation.
In December 1998, paragraphs 5, 52, 81, and 83 were amended and paragraph 43A was added to reflect the issuance of IAS 39, Financial Instruments: Recognition and Measurement.
In October 2000, paragraphs 91-93 were deleted and paragraph 94 amended to eliminate disclosure requirements that become redundant as a result of IAS 39. The changes to IAS 32 become effective when an enterpri applies IAS 39 for the first time.
Three SIC Interpretations relate to IAS 32:
z SIC-5, Classification of Financial Instruments - Contingent Settlement
Provisions;
z SIC-16, Share Capital - Reacquired Own Equity Instruments (Treasury Shares);
and
z SIC-17, Equity - Costs of an Equity Transaction.
The standards, which have been t in bold italic type, should be read in the context of the background material and implementation guidance in this Standard, and in the context of the Preface to International Accounting Standards. International Accounting Standards are not intended to apply to immaterial items (e paragraph 12 of the Preface).
Objective
The dynamic nature of international financial markets has resulted in the widespread u of a variety of financial instruments ranging from traditional primary instruments, such as bonds, to various forms of derivative instruments, such as interest rate swaps. The objective of this Standard is to enhance financial statement urs' understanding of the significance of on-balance-sheet and off-balance-sheet financial instruments to an enterpri's financial position, performance and cash flows.
The Standard prescribes certain requirements for prentation of on-balance-sheet financial instruments and identifies the information that should be disclod about both on-balance-sheet (recognid) and off-balance-sheet (unrecognid) financial
instruments. The prentation standards deal with the classification of financial instruments between liabilities and equity, the classification of related interest, dividends, loss and gains, and the circumstances in which financial asts and financial liabilities should be offt. The disclosure standards deal with information about factors that affect the amount, timing and certainty of an enterpri's future cash flows relating to financial instruments and the accounting policies applied to the instruments. In addition, the Standard encourages disclosure of information about the nature and extent of an enterpri's u of financial instruments, the business purpos that they rve, the risks associated with them and management's policies for controlling tho risks.
Scope
1. This Standard should be applied in prenting and disclosing information about all types of financial instruments, both recognid and unrecognid, other than:
(a) interests in subsidiaries, as defined in IAS 27, Consolidated Financial Statements and Accounting for Investments in Subsidiaries;
(b) interests in associates, as defined in IAS 28, Accounting for Investments in Associates;
(c) interests in joint ventures, as defined in IAS 31, Financial Reporting of Interests in Joint Ventures;
燕赵晚报电子版(d) employers' and plans' obligations for post-employment benefits of all types, including employee benefit plans as described in IAS 19, Employee Benefits, and IAS 26, Accounting and Reporting by Retirement Benefit Plans;
(e) employers' obligations under employee stock option and stock purcha plans as described in IAS 19, Employee Benefits; and
(f) obligations arising under insurance contracts.
2. Although this Standard does not apply to an enterpri's interests in subsidiaries, it does apply to
all financial instruments included in the consolidated financial statements of a parent, regardless of whether tho instruments are held or issued by the parent or by a subsidiary. Similarly, the Standard applies to financial instruments held or issued by a joint venture and included in the financial statements of a venturer either directly or through proportionate consolidation.
3. For purpos of this Standard, an insurance contract is a contract that expos the insurer to identified risks of loss from events or circumstances occurring or discovered within a specified period, including death (in the ca of an annuity, the survival of the annuitant), sickness, disability, property damage, injury to others and business interruption. However, the provisions of this Standard apply when a financial instrument takes the form of an insurance contract but principally involves the transfer
五花肉炒青椒of financial risks (e paragraph 43), for example, some types of financial reinsurance and guaranteed investment contracts issued by insurance and other enterpris. Enterpris that have o
bligations under insurance contracts are encouraged to consider the appropriateness of applying the provisions of this Standard in prenting and disclosing information about such obligations.
染整技术4. Other International Accounting Standards specific to certain types of financial instruments contain additional prentation and disclosure requirements. For example, IAS 17, Leas, and IAS 26, Accounting and Reporting by Retirement Benefit Plans, incorporate specific disclosure requirements relating to finance leas and retirement benefit plan investments, respectively. In addition, some requirements of other International Accounting Standards, particularly IAS 30, Disclosures in the Financial Statements of Banks and Similar Financial Institutions, and IAS 39, Financial Instruments: Recognition and Measurement, apply to financial instruments. Definitions
5. The following terms are ud in this Standard with the meanings specified:
A financial instrument is any contract that gives ri to both a financial ast of one enterpri and a financial liability or equity instrument of another enterpri. Commodity-bad contracts that give either party the right to ttle in cash or some other financial instrument should be accounted for as if they were financial instruments, with the exception of commodity contracts that (a) were entered into and continue to meet the enterpri's expected purcha, sale, or usage requirements, (b) were designated for that purpo at their inception, and (c) are expected to be ttled by delivery.
A financial ast is any ast that is:
(a) cash;
(b) a contractual right to receive cash or another financial ast from another enterpri;
(c) a contractual right to exchange financial instruments with another enterpri under conditions that are potentially favourable; or
(d) an equity instrument of another enterpri.
A financial liability is any liability that is a contractual obligation:
(a) to deliver cash or another financial ast to another enterpri; or
(b) to exchange financial instruments with another enterpri under conditions that are potentially unfavourable.
An enterpri may have a contractual obligation that it can ttle either by payment of financial asts or by payment in the form of its own equity curities. In such a ca, if the number of equity curities required to ttle the obligation varies with changes in their fair value so that the total fair value of the equity curities paid always equals the amount of the contractual obligation, the holder of the obligation is not expod to gain or loss from fluctuations in the price of its equity curities. Such an obligation should be accounted for as a financial liability of the enterpri. [1]
An equity instrument is any contract that evidences a residual interest in the asts of an enterpri after deducting all of its liabilities.
Monetary financial asts and financial liabilities (also referred to as monetary financial instruments) are financial asts and financial liabilities to be received or paid in fixed or determinable amounts of money.
Fair value is the amount for which an ast could be exchanged, or a liability ttled, between knowledgeable, willing parties in an arm's length transaction.
Market value is the amount obtainable from the sale, or payable on the acquisition, of
a financial instrument in an active market.
6. In this Standard, the terms "contract" and "contractual" refer to an agreement between two or more parties that has clear economic conquences that the parties have little, if any, discretion to avoid, usually becau the agreement is enforceable at law. Contracts, and thus financial instruments, may take a variety of forms and need not be in writing.
7. For purpos of the definitions in paragraph 5, the term "enterpri" includes individuals, partnerships, incorporated bodies and government agencies.
8. Parts of the definitions of a financial ast and a financial liability include the terms financial ast and financial instrument, but the definitions are not circular. When there is a contractual right or obligation to exchange financial instruments, the instruments to be exchanged give ri to financial asts, financial liabilities, or equity instruments. A chain of contractual rights or obligations may be established but it ultimately leads to the receipt or payment of cash or to the acquisition or issuance of an equity instrument.
9. Financial instruments include both primary instruments, such as receivables, payables and equity curities, and derivative instruments, such as financial options, futures and forwards, interest rate swaps and currency swaps. Derivative financial instruments, whether recognid or unrecognid, meet the definition of a financial instrument and, accordingly, are subject to this Standard.
10. Derivative financial instruments create rights and obligations that have the effect of transferring between the parties to the instrument one or more of the financial risks inherent in an underlying primary financial instrument. Derivative instruments do not
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result in a transfer of the underlying primary financial instrument on inception of the contract and such a transfer does not necessarily take place on maturity of the contract.
11. Physical asts such as inventories, property, plant and equipment, lead asts and intangible asts such as patents and trademarks are not financial asts. Control of such physical and intangible asts creates an opportunity to generate an inflow of cash or other asts but it does not give ri to a prent right to receive cash or other financial asts.
12. Asts, such as prepaid expens, for which the future economic benefit is the receipt of goods or rvices rather than the right to receive cash or another financial ast are not financial asts. Similarly, items such as deferred revenue and most warranty obligations are not financial liabilities b
ecau the probable outflow of economic benefits associated with them is the delivery of goods and rvices rather than cash or another financial ast.
13. Liabilities or asts that are not contractual in nature, such as income taxes that are created as a result of statutory requirements impod by governments, are not financial liabilities or financial asts. Accounting for income taxes is dealt with in IAS 12, Income Taxes.
14. Contractual rights and obligations that do not involve the transfer of a financial ast do not fall within the scope of the definition of a financial instrument. For example, some contractual rights (obligations), such as tho that ari under a commodity futures contract, can be ttled only by the receipt (delivery) of non-financial asts. Similarly, contractual rights (obligations) such as tho that ari under an operating lea for u of a physical ast can be ttled only by the receipt (delivery) of rvices. In both cas, the contractual right of one party to receive a non-financial ast or rvice and the corresponding obligation of the other party do not establish a prent right or obligation of either party to receive, deliver or exchange a financial ast.
15. The ability to exerci a contractual right or the requirement to satisfy a contractual obligation may be absolute, or it may be contingent on the occurrence of a future event. For example, a financi
al guarantee is a contractual right of the lender to receive cash from the guarantor, and a corresponding contractual obligation of the guarantor to pay the lender, if the borrower defaults. The contractual right and obligation exist becau of a past transaction or event (assumption of the guarantee), even though the lender's ability to exerci its right and the requirement for the guarantor to perform under its obligation are both contingent on a future act of default by the borrower. A contingent right and obligation meet the definition of a financial ast and a financial liability, even though many such asts and liabilities do not qualify for recognition in financial statements.
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16. An obligation of an enterpri to issue or deliver its own equity instruments, such as a share option or warrant, is itlf an equity instrument, not a financial liability, since the enterpri is not obliged to deliver cash or another financial ast. Similarly,
the cost incurred by an enterpri to purcha a right to re-acquire its own equity instruments from another party is a deduction from its equity, not a financial ast. [2]
17. The minority interest that may ari on an enterpri's balance sheet from consolidating a subsidiary is not a financial liability or an equity instrument of the enterpri. In consolidated financial statements, an enterpri prents the interests of other parties in the equity and income of its subsidiaries in accordance with IAS 27, Consolidated Financial Statements and Accounting for Investments in Subsidiaries. Accordingly, a financial instrument classified as an equity instrument by a subsidiary is eliminated on consolidation when held by the parent, or prented by the parent in the consolidated balance sheet as a minority interest parate from the equity of its own shareholders. A financial instrument classified as a financial liability by a subsidiary remains a liability in the parent's consolidated balance sheet unless eliminated on consolidation as an intragroup balance. The accounting treatment by the parent on consolidation does not affect the basis of prentation by the subsidiary in its financial statements.
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Liabilities and Equity
18. The issuer of a financial instrument should classify the instrument, or its component parts, as a liability or as equity in accordance with the substance of the contractual arrangement on initial recognition and the definitions of a financial liability and an equity instrument. [3]
19. The substance of a financial instrument, rather than its legal form, governs its classification on the issuer's balance sheet. While substance and legal form are commonly consistent, this is not always the ca. For example, some financial instruments take the legal form of equity but are liabilities in substance and others may combine features associated with equity instruments and features associated with financial liabilities. The classification of an instrument is made on the basis of an asssment of its substance when it is first recognid. That classification continues at each subquent reporting date until the financial instrument is removed from the enterpri's balance sheet.
20. The critical feature in differentiating a financial liability from an equity instrument is the existence of a contractual obligation on one party to the financial instrument (the issuer) either to deliver cash or another financial ast to the other party (the holder) or to exchange another financial instrument with the holder under conditions that are potentially unfavourable to the issuer. When such a contractual obligation exists, that instrument meets the definition of a financial liability regardless of the manner in which the contractual obligation will be ttled. A restriction on the ability of the issuer to satisfy an obligation, such as lack of access to foreign currency or the need to obtain approval for payment from a regulatory authority, does not negate the issuer's obligation or the holder's right under the instrument.
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