The standard, and its associated IFRIC interpretations, address __________________ – i.e. an entity’s own equity instruments held by the entity.
Question
The standard, and its associated IFRIC interpretations, address __________________ – i.e. an entity’s own equity instruments held by the entity.
Solution
The standard and its associated IFRIC interpretations address 'Treasury Shares' - i.e. an entity’s own equity instruments held by the entity.
Step 1: Understand the question - The question is asking about a standard and its associated IFRIC interpretations that address a specific issue - an entity's own equity instruments held by the entity.
Step 2: Identify the key terms - The key term here is "an entity’s own equity instruments held by the entity". This is referring to shares that a company has issued and subsequently reacquired, also known as treasury shares.
Step 3: Answer the question - The standard and its associated IFRIC interpretations that address this issue are those related to treasury shares. These standards provide guidance on how to account for treasury shares in the financial statements of a company.
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IAS 32 examines whether an individual instrument (or class of instruments) issued by the ___________ is a financial liability or equity.
The standard, and its associated IFRIC interpretations, address the classification of _______________, dividends, losses and gains.
What is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity?
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