Government Transfers - Deloitte
Government Transfers - Deloitte Government Transfers - Deloitte
What is a financial instrument Definition • contractual arrangement between two or more parties • gives rise to financial assets of one entity and financial liabilities or equity instruments of another entity Excluded • does not apply to transactions that are not contractual in their nature, such as taxes, grants and transfers Examples • accounts receivable and payable • loans receivable and payable • debt instruments • equity instruments • derivatives
Derivatives and Embedded Derivatives Derivatives •Characteristics: •Value changes with underlying variable •Requires little or no initial net investment •Settled at a future date •Examples: •Interest rate swaps •Forward contracts •Cross currency swaps •Written options •Purchased options Embedded Derivatives • Component within contract • Accounted for separately if: •Not closely related to host contract •Would meet the definition of a derivative •Host contract is not accounted for at fair value •Possible examples: •Contract denominated in foreign currency •Contract pricing linked to index
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What is a financial instrument<br />
Definition<br />
• contractual arrangement between two or more parties<br />
• gives rise to financial assets of one entity and financial liabilities or<br />
equity instruments of another entity<br />
Excluded<br />
• does not apply to transactions that are not contractual in their<br />
nature, such as taxes, grants and transfers<br />
Examples<br />
• accounts receivable and payable<br />
• loans receivable and payable<br />
• debt instruments<br />
• equity instruments<br />
• derivatives
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