Financial Instruments

IFRS Financial Instruments

This course starts with the explanation and description of financial instruments. It then provides comprehensive coverage of the rules for recognition, de-recognition, impairment testing and measurement of financial instruments. The distinctions between liabilities and debt are covered, including guidelines for evaluating compound financial instruments and contracts that have some characteristics of both debt and equity.

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This course builds on Financial Markets Modern Finance and introduces other instruments that are commonly available in major financial markets. The course covers the basic asset pricing models which are in use for bonds, futures, foreign exchange and options. This is an analytical and quantitative course and each topic is developed from first principles. The topics covered include: risk management using forwards and futures, hedging foreign currency risk; an introduction to bonds and interest rates; options pricing including the Black Scholes Merton model; binomial asset pricing and use of The Greeks. The coursework essay gives students the opportunity to investigate an issue of importance from either a theoretical or empirical standpoint.

Don’t be fooled into thinking that only the financial sector will be affected by the financial instruments standards. Their impact is wide ranging and covers everyday matters such as an entity’s investing activities and trade receivables and payables, as well as more complex issues such as accounting for convertible debentures, derivatives and hedging.

This course will benefit anyone who needs to get up to speed on how IAS32, IAS39 and IFRS 7 internationally and their UK equivalents FRS25, FRS26 and FRS29 will affect their business.

This course is aimed specifically at the non-financial sector.

Learning outcomes include obtaining a greater understanding of:

The definition of financial instruments and the difference between equity instruments and financial liabilities
Accounting for compound financial instruments
Accounting for financial assets and financial liabilities
Recognition, initial measurement and subsequent measurement
Impairment and derecognition
Hedging and embedded derivatives

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