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22 lip 2004 · Overview. 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.
IFRS 7, titled Financial Instruments: Disclosures, is an International Financial Reporting Standard (IFRS) published by the International Accounting Standards Board (IASB). It requires entities to provide certain disclosures regarding financial instruments in their financial statements. [1]
IFRS 7 requires entities to provide disclosures in their financial statements that enable users to evaluate: the significance of financial instruments for the entity’s financial position and performance.
In March 2009 the IASB enhanced the disclosures about fair value and liquidity risks in IFRS 7. The Board also amended IFRS 7 to reflect that a new financial instruments Standard was issued—IFRS 9 Financial Instruments, which related to the classification of financial assets and financial liabilities.
A summary of IFRS 7 Financial Instruments: Disclosures, including information on current proposals and a timeline of past amendments, announcements, exposure drafts and consultations.
IFRS 7 Financial Instruments: Disclosures. The objective of this IFRS is to require entities to provide disclosures in their financial statements that enable users to evaluate: the significance of financial instruments for the entity’s financial position and performance; and.
The main principle of disclosure for IFRS 7 is that an ‘entity shall disclose information that enables users of its financial report to evaluate the significance of financial instruments for its financial position and performance. There are no recognition or measurement requirements included within. IFRS 7. DISCLOSURES.
