第10周金融工具会计

Define‘financialinstrument’anddistinguishbetweenprimaryandderivativefinancialinstruments,andbetweensimpleandcompoundfinancialinstruments(H&PLO14.1),Anyagreementthatcreatesafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity能使一方产生金融资产，另一方产生金融债务或权益的协议Forexample,thesaleofgoodsbyoneentitytoanotheroncreditwillgiveriseto:afinancialassetfortheseller(accounts afinancialliabilityforthepurchaser(accountsFinancialasset(AASB132paraAnequityinstrumentofanotherAcontractualToreceivecashoranotherfinancialasset;Acontractthatwillormaybesettledintheentity’sownequityinstrumentsandAnon-derivativeforwhichtheentityisormaybeobligedtoreceiveavariablenumberofentity’sownequityinstruments;AderivativethatwillormaybesettledotherthanbytheexchangeofafixedamountofcashoranotherfinancialassetFinancialliability(AASB132paraAcontractualTodelivercashoranotherfinancialToexchangefinancialassetsorfinancialliabilitiesunderpotentiallyunfavorableconditions;Acontractthatwillormaybesettledintheentity’sownequityinstrumentsandAnon-derivativeforwhichtheentityisormaybeobligedtodeliveravariablenumberofentity’sownequityinstruments;Aderivativethatwillormaybesettledotherthanbytheexchangeofafixedamountofcashoranotherfinancialasset.Primaryfinancialinstruments:初级的金融工具是能现金直接挂钩的,要不就是现金形式,Financialassets:Suchascash,accountsreceivable,notesreceivable,loansFinancialliabilities:Suchasaccountspayable,notespayable,loansSpecifiedincashtermsanddirectlyconvertibletoDerivativesecondaryfinancialinstruments:Derivetheirvaluefromsomethingelseunderlyingthefinancialinstrument(egsharepriceorexchangerate)本身没有价值，是基于其他东西而产生的价值Createrightsandobligationsthathavetheeffectoftransferringbetweenthepartiestotheinstrumentoneormoreofthefinancialrisksinherentinanunderlyingprimaryfinancial›Examples:Forwardcontracts,options,interestrateorcurrency›ReferAASB139para9:DefinitionSimplefinancialinstruments:Consistofasinglefinancialasset,financialliabilityorequitySuchasaloanreceivable,aloanpayableoranordinaryshareCompoundfinancialinstruments:复合金融工具Consistofacombinationofcharacteristicsoffinancialassets,financialliabilitiesandequityE.g.,adebtsecurityconvertibleintoordinaryItisimportanttodistinguishbetweenfinancialliabilitiesandequityinstrumentsbecause:区ClassifyingfinancialinstrumentsasliabilitiesratherthanequitywillaffectanleveragegearingandsolvencyratiosandWhethertheybreachthecovenantsintheirdebtcontracts.是否违反借款合同,有的合同借款.›OffsettingafinancialassetandfinancialliabilityinthestatementoffinancialAfinancialassetandafinancialliabilitymustbeoffsetandthenetamountpresentedinthebalancesheetwhen,andonlywhen,anentity(AASB132para42):金融资产和负债必须对冲，Currentlyhasalegallyenforceablerighttosetofftherecognizedamounts;Intendseithertosettleonanetbasis,ortorealizetheassetandsettletheliabilityIdentifythecategoriesoffinancialassetsandfinancialliabilitiesinAASB9‘FinancialInstruments’(H&PLO14.2)如何确认和计量金融资产和金融债务①Categoriesoffinancialassets:IntroductoryRecognitionandmeasurementoffinancialinstrumentshasbeencontroversial.Standard-setterstriedtorequireallfinancialinstrumentstobemeasuredandreportedatfairvalue,toremeasure(revalue)themeveryperiodandtoincludethechangesinvalueintheprofitorlossfortheperiod.要求所有金融工具以公允价值计量,并在之后的每个会计期度重新计量,ThatapproachhasbeenstronglyTheaccountingforfinancialinstrumentshasattractedconsiderablenewsmediacommentaryovertheyearsTheresultoftheoppositiontothestandard-setters‟preferredfairvaluemeasurementofallfinancialinstruments,withchangesinvalueincludedinprofiteachyearhasbeenthedevelopmentof“purpose-led”classificationsbasedonmanagementintent.争议的结果是，用Categoriesoffinancialinstrumentsdevisedwithdifferentaccountingrequirementsforeach1.Amortisedcost;2.FairvaluethroughP&L;3.FairvaluethroughOtherComprehensiveIncome公允价值变动计入其他综合收益Therecognitionandmeasurementofafinancialinstrument,andtheeffectonthefinancialreports,differsdependingonthecategory›InthelatestchangesinAASB9,thecategoriesoffinancialinstrumentsaredeterminedreferencetotheentity’s“business②AASB9categoriesoffinancial›Thebusinessmodeltestrelatestotheentity‟sapproachtomanagingitsfinancialassets(AASB9para4.1.1)“anentityshallclassifyfinancialassetsassubsequentlymeasuredateitheramortisedcostorfairvalueonthebasisofboth:后续计量分两类，或者用摊销成本，或者用公允价值theentity’sbusinessmodelformanagingthefinancialassets;thecontractualcashflowcharacteristicsofthefinancialAppliesonlytodebtinstruments“Afinancialassetshallbemeasuredatamortisedcostifbothofthefollowingconditionsaremet:金融资产应该按摊销成本计量，如果满足以下要求theassetisheldwithinabusinessmodelwhoseobjectiveistoholdassetsinordertocollectcontractualcashflows.持有的目的是按合约获得现金流thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding”(AASB9para4.1.2)特定时间内的现金流只包括本金和利息。AtinitialrecognitionthesefinancialassetsaremeasuredatfairvalueplustransactioncostsdirectlyattributabletoacquisitionAASB9para5.1.1)›Subsequentlythesefinancialassetsaremeasuredatamortisedcost(AASB139para9viaAASB9paraAASB9categoriesoffinancialassetsFVthroughP&LFinancialassetsmeasuredatfairvaluethroughprofitandloss.Appliestoallfinancialassetsunlessotherwiseclassified金融资产以公允价值计量并反映在损益表中，适用于所有金融资InitiallymeasuredatfairvalueAASB9para5.1.1)初始以公允价值计量,Subsequenttoinitialrecognition,measuredatfairvalueateachreportingdate,withchangesinfairvalueincludedincalculatingtheprofitorlossforthereportingperiod(AASB9para5.1.5)Financialassetsmeasuredatfairvaluethroughothercomprehensiveincome:公允价值变动计入其他综合收益（Equityaccount，持有至到期投资Appliestoequityinstrumentsthatarenotheldfortradingandthataredesignatedinthiswayoninitialrecognition(AASB9para 5.7.5)适用于不拿来交易的金融权益工具Oninitialrecognitionmeasuredatfairvalueplustransactioncosts(AASB9para 5.1.1)公允Subsequenttoinitialrecognition,measuredatfairvaluewithanychangesinfairvaluerecognizedinothercomprehensiveincome(AASB9para5.7.5)③AASB9categoriesoffinancialFinancialliabilitiesmeasuredatfairvaluethroughprofitandloss金融债务变动计入当期损AppliestofinancialliabilitiesincurredfortradingpurposesandforderivativesthatarenotpartInitiallyrecognizedatfairvalueAASB9para5.1.1)Subsequently,measuredatfairvalueeachreportingperiodwithchangesinfairvalueincludedincalculatingtheprofitandlossforeachperiod(AASB9para4.2.1(a))之后变动计入当期损OtherfinancialRecognizedinitiallyatfairvalueplustransactioncosts(AASB9para5.1.1)公允价值加交易成Subsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod(AASB9para4.2.1)后续用摊销成本计量，按有效利率法④AASB9categories›ThestandardsettershavetriedtorequirefairvaluethroughP&Lforallfinancial›Theclassificationsmeanthatsomefinancialinstrumentsaretreateddifferently.Thisaffectstheamountsoffinancialassetsandliabilitiesreportedinthestatementoffinancialposition,andthereportedfinancialresults.›Forsomeentities,theclassificationsmakeabigdifferencetotheirfinancialreports.newspaperarticleinyourselfstudy›Changingtheclassificationsalsochangesthefinancialresults–forexampleshiftingfinancialinstrumentsfromFVthoughP&LtoFVthroughOCIortoAmortisedcost.›Thediagraminthenextslideshowsthatthefullclassificationprocessisextremelycomplicated.(NB.Youarenotexpectedtoknowthedetailsofthisdiagram)AASB9,132&139definitionsoffairvalueallrefertoAASB13FairvalueApplytheAASB13fairvaluehierarchytofinancialinstrumentsinthefollowingLevel1:quotedpricesinanactivemarket,mostreliableevidenceAASB9paras7680)公开市Level2:valuesotherthanquotedpricese.gpricesofsimilarassetsinanactivemarket(AASB9pars81-85)活跃市场中，相似资产的价格Level3:unobservableinputse.g.DCF;oroptionpricingmodels(AASB9paras86-HedgingAccounting：套期保值会计Financialinstrumentsmaybeusedfor:Hedging(oftentomanageAhedgingarrangementinvolvestakingapositionoppositetotheoriginaltransactionsotheentityminimizesitsexposuretogainsandlossesonparticularassetsandliabilities.Example:AnentityholdspropertyintheUSAthatitexpectstosellforUS$1millionintwoTohedgetheUS$1itexpectstoreceiveintwoyears,itmightenteraforwardexchangecontract(aderivativefinancialinstrument)topayUS$1millionintwoyearsinexchangeforanamountofAustralian$thatisspecifiednow.Oneargumentagainstaccountingforderivativesbyapplyingfairvaluewithvaluechangesincludedintheprofitorlossisthatthederivativesmaybeusedforhedgingpurposes.›AASB9permits“hedgeaccounting”underlimitedHedgeaccountingwouldmeanthatthevaluechangesinboththederivativeandthehedgeditemwouldbetreatedinthesameway,ieboththroughOCIorboththroughP&L(AASB9paraAsanexampleofaderivativefinancialinstrument,understandthenatureofoptioncontractsandexplainhowtoaccountforthem(H&PLO14.4)Anoptionis:Theright(butnottheobligation)toforceatransactiontooccuratsomefuturetimeontermsandconditionsagreedtonow.TypesofCallTherighttobuyanunderlyingassetatafixedPutTherighttosellanunderlyingassetatafixedNoteTheoptionbuyerchooseswhetherdeliverywillWhenanoptioncontractisTheoptionbuyermustimmediatelypaytheoptionpricetotheIftheoptionissubsequentlythereisafurthertransactionwhentheexercisepriceisTheoptionbuyerpaystheoptionwriteracashpremium.Buyerofacalloptionhastherightofeither:Sellingtheoptionattherulingcalloptionprice;BuyingtheunderlyingfinancialinstrumentatapredeterminedpriceBuyerofaputoptionhastherightofeither:Sellingtheoptionattherulingputoptionprice;Sellingtheunderlyingfinancialasse