A Guide to Financial Instruments for Private Enterprises and Not-for-Profit Organizations

January 31, 2021

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

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