CERTYNEX IFRS ACADEMY

Mercanelle trades a forward contract to buy copper that falls within the scope of IFRS 9 but does not meet the IAS 32 definition of a financial asset or liability (case data). The entity otherwise manages its net market-risk exposures in a documented way. Can this contract be part of the group measured on the basis of a net position?

No: a contract on a physical commodity is always excluded from the exception.

Yes, since it falls within the scope of IFRS 9, subject to the other conditions of the exception.

No: only instruments meeting the IAS 32 definitions can be included.

Yes, with no other condition, since the entity's management is documented.