IFRS 7 – FINANCIAL INSTRUMENTS DISCLOSURES

Authors

  • Veronica GROSU Stefan cel Mare University, DCAF
  • Anisia Ancuța CHELBA Stefan cel Mare University

Keywords:

IFRS 7, financial instruments, financial assets, derivations, evaluation

Abstract

These instructions provide basic guidelines to help authors prepare their final camera-ready papers for IFRS 7 Financial Instruments Disclosures standard was elaborated in order to review the existing similarities in IAS 32 and in IAS 30, but also to eliminate the redundant and expensive showcases from IAS 32 referring to the risk concentrations of credit risk, liquidity or market, and to erase the commentaries from IAS 30 about contingency, commitments and general banking risks. The appearance of this standard has also marked the rule unification regarding the informational description about the financial instruments, which were found in the IFRS/IAS referential, in more norms, thus this standard is applied to all risks generated by the financial instruments, being used by all entities. The purpose of this article is oriented towards highlighting the importance and the utility of the IFRS 7 standard, especially for the entities who utilize financial instruments.

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Published

28.01.2019

Issue

Vol. 8 No. 1 (2019)

Section

Accounting, Finance, Statistics and Economic informatics

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