Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

IFRS 7Chapter 1Lesson 1

What IFRS 7 disclosures are for: objective and classes of instruments

Step 1 of 6Learning objectives

Go deeper+1 point of attention

IFRS 7 does not say how to account for a financial instrument: it says what must be explained to users about its importance and its risks, class by class.

35 minNot started

Learning objectives

  • Explain the two objectives of IFRS 7 and what sets it apart from a recognition standard.
  • Recognise, among the items of a note, those that answer the "importance" part or the "risks" part.
  • Tell a class of instruments from a measurement category.
  • Build a grouping into classes that the reader can reconcile to the line items of the statement of financial position.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IFRS 7 — Financial Instruments: Disclosures

  1. 1 · Not startedObjective, scope and classes of instruments0 / 1 lesson
  2. 2 · Not startedSignificance for financial position and performance0 / 2 lessons
  3. 3 · Not startedHedge accounting disclosures0 / 0 lessons
  4. 4 · Not startedFair value disclosures0 / 1 lesson
  5. 5 · Not startedNature and extent of risks0 / 1 lesson
  6. 6 · Not startedCredit risk disclosures0 / 2 lessons
  7. 7 · Not startedLiquidity risk and market risk0 / 2 lessons
  8. 8 · Not startedTransfers of financial assets0 / 1 lesson
  9. 9 · Not startedLinks with other standards, recent amendments and developments0 / 1 lesson