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22 lip 2004 · IFRS 7 Financial Instruments: Disclosures requires disclosure of information about the significance of financial instruments to an entity, and the nature and extent of risks arising from those financial instruments, both in qualitative and quantitative terms.
Details of cash flow hedges, fair value hedges and hedge of net investment in foreign operations. Description of the impact of choosing the exception under IFRS 9 or IAS 39 for interest rate benchmark reform. Disclose if fair value cannot be determined. Objectives, policies and processes for managing risk and method used to measure risk.
IFRS 7 should be read in the context of its objective and the Basis for Conclusions, the Preface to IFRS Standards and the Conceptual Framework for Financial Reporting. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
International Accounting Standard 7 Statement of Cash Flows (IAS 7) is set out in paragraphs 1–61. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB.
This edition of IFRS in Practice looks at a number of practical issues which often arise from the application of IAS 7 Statement of Cash Flows. The original version of IAS 7 was first issued in 1992, with the International Accounting Standards Board (IASB) adopting the standard in April 2001.
IAS 7 Statement of Cash Flows. The original version of IAS 7 was first issued in 1992, with the International Accounting Standards Board (IASB) adopting the standard in April 2001. Being one of the older standards in the current suite of IFRSs, IAS 7 is shorter and more summarised
IFRS 7, Financial Instruments: Disclosures, consolidates and expands a number of existing disclosure requirements and adds some significant and challenging new disclosures. It is applicable for annual periods beginning on or after 1 January 2007, with prior year comparatives required.
