Ind AS 107, Financial Instruments: Disclosures The goal of the Ind AS 107 is to need entities to offer disclosures in their financial declarations that enable users to evaluate:
- the significance of monetary instruments for the entity’s monetary position and performance; and
- the nature and extent of risks occurring from monetary instruments to which the entity is exposed throughout the period and at the end of the reporting duration, and how the entity manages those
Ind AS 107
The qualitative disclosures describe management’s goals, policies and processes for managing those threats. The quantitative disclosures provide information about the extent to which the entity is exposed to ri sk, based on information provided internally to the entity’s essential management workers. Together, these disclosures offer an overview of the entity’s use of financial instruments and the direct exposures to risks they produce
The Ind AS uses to all entities, including entities that have couple of financial instruments (e.g., a manufacturer whose just monetary instruments are balance dues and accounts payable) and those that have lots of monetary instruments (e.g., a financial institution most of whose possessions and liabilities are monetary instruments).
When this Ind AS requires disclosures by class of monetary instrument, an entity shall group financial instruments into classes that are proper to the nature of the info divulged and that consider the attributes of those monetary instruments. An entity shall supply enough information to allow reconciliation to the line products provided in the declaration of financial position.
The principles in this Ind AS enhance the principles for recognising, measuring and presenting financial assets and monetary liabilities in Ind AS 32, Financial Instruments: Discussion and Ind AS 109, Financial Instruments
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