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What is the purpose of disclosure requirements of IFRS 7?

What is the purpose of disclosure requirements of IFRS 7?

Purpose of IFRS 7’s disclosure requirements is to

  • Enhance understanding of the significance of financial instruments to an entity’s financial position, performance and cash flows;
  • Assist in assessing the amounts, timing and certainty of future cash flows associated with those instruments;
  • Assist users in assessing the extent of market, credit, liquidity and cash flow interest rate risks transferred or assumed as a result of entering into financial instruments.

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