Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
This publication provides an overview of ASPE Section 3856, Financial Instruments. It discusses:
- The scope of the standard
- Common financial instruments
- Recognition
- Initial and subsequent measurement
- Impairment
- Liability vs equity classification, including classification of retractable or mandatorily redeemable shares issued in a tax planning arrangement (RoMRS)
- Offsetting
- Derecognition
- Disclosure
- First-time adoption requirements