Chapter 45 Financial Instruments from the Guide to ASPE

Chapter 45 Financial Instruments from the Guide to Accounting Standards for Private Enterprises provides detailed guidance on the application of Section 3856 Financial Instruments from the CPA Handbook - Accounting.

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Guide to Accounting Standards for Private Enterprises: Chapter 45, Financial Instruments discusses the application of Section 3856. The guide assists practitioners and those who prepare financial statements in accordance with accounting standards for private enterprises (ASPE), using many tools to illustrate the requirements. Included is a handy decision flow chart reflecting how Section 3856 is applied.

Topics include:

  • What is a financial instrument?
  • When should a financial instrument be recognized in financial statements?
  • How should a financial instrument be recognized when initially measured and thereafter?
  • How should a financial instrument be presented?
  • When is a financial instrument derecognized?
  • When and how can hedge accounting be applied?
  • What disclosures are required for financial instruments?

This chapter from the complete Guide to Accounting Standards for Private Enterprises is available as a free download.

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