International Accounting Standard 32, Financial Instruments: Presentation, IFRS

International Accounting Standards (IAS)
International Financial Reporting Standards (IFRS)

U.S. GAAP

IFRS, IAS

Accounting Topics

International Accounting Standard (IAS) 32
Financial Instruments: Presentation

International Financial Reporting Standards (IFRS)

International Accounting Standards (IAS)

U.S. GAAP by Topic

International Accounting Standard (IAS) 32

IAS 32

Financial Instruments: Presentation

Issued in June 1995

Revised in December 2003

Recent amendment: by IFRS 3 revised in January 2008

Is cash a financial asset?
--> Yes.

Is an equity instrument of another entity a financial asset?
--> Yes.

Is a contractual right to receive financial assets from another entity a financial asset?
--> Yes.

An entity has a contractual right
            to exchange financial assets or financial liabilities
            with another entity
            (potentially favorable to the entity).

      Is this contractual right a financial asset?
         --> Yes.

An entity has a non-derivative for which
             the entity has an obligation to receive
             its own equity instruments (a variable number)
      and this contract is an asset
      and this contract will be settled in the entity's own equity instruments.

      Is this contractual right a financial asset?
         --> Yes.

An entity has a derivative that will be settled other than
             by the exchange of another financial asset (a fixed amount)
             for the entity's own equity instruments (a fixed number)
      and this contract is an asset
      and this contract will be settled in the entity's own equity instruments.

      Is this contractual right a financial asset?
         --> Yes.

Is a contractual obligation
         to deliver financial assets to another entity a financial liability?
         --> Yes.

An entity has a contractual obligation
             to exchange financial assets or financial liabilities
             with another entity
             (potentially unfavorable to the entity).

      Is this contractual right a financial liability?
         --> Yes.

An entity has a non-derivative for which
             the entity has an obligation to deliver
             its own equity instruments (a variable number)
      and this contract is a liability
      and this contract will be settled in the entity's own equity instruments.

      Is this contractual right a financial liability?
         --> Yes.

An entity has a derivative that will be settled other than
             by the exchange of another financial asset (a fixed amount)
             for the entity's own equity instruments (a fixed number)
      and this contract is a liability
      and this contract will be settled in the entity's own equity instruments.

      Is this contractual right a financial liability?
         --> Yes.

A financial instrument includes a contractual obligation
            to deliver financial assets to another entity.

      Can this instrument be an equity instrument?
         --> No.

A financial instrument includes a contractual obligation
            to exchange financial assets or financial liabilities
            with another entity
            (potentially unfavorable to the entity).

      Can this instrument be an equity instrument?
         --> No.

An entity has a non-derivative for which
             the entity has an obligation to receive
             its own equity instruments (a variable number)
      and this contract will be settled in the entity's own equity instruments.

      Can this instrument be an equity instrument?
         --> No.

An entity has a derivative that will be settled other than
             by the exchange of another financial asset (a fixed amount)
             for the entity's own equity instruments (a fixed number)
      and this contract will be settled in the entity's own equity instruments.

      Can this instrument be an equity instrument?
         --> No.

U.S. GAAP by Topic

Accounting Topics

Inventory Valuation Methods

Depreciation Methods

Revenue Recognition Principle

Accrual Basis vs. Cash Basis Accounting

Basics of Journal Entries

Ratios for Financial Statement Analysis

Overview of Financial Statements

	Wiley IFRS 2008: Interpretation and Application of International Accounting and Financial Reporting Standards 2008 by Barry J. Epstein and Eva K. Jermakowicz (Paperback - Mar 28, 2008) Paperback Edition Book & CD-Rom Edition
	Wiley GAAP 2008: Interpretation and Application of Generally Accepted Accounting Principles 2008 Paperback Edition Book & CD-Rom Edition
	Wiley CPA Exam Review 2008: 4 Volume Set 4 Volume Set