can anyone explain sum of financial instruments ? (unit 3 illustration 22)
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Quick Summary
This discussion seeks to clarify the concept of financial instruments within financial reporting, specifically referencing unit 3, illustration 22. Participants are exploring whether it refers to FVTPL investments or a combination of parent and subsidiary financial assets/liabilities. A helpful YouTube playlist by Gopal Somani, a Chartered Accountant, is shared to provide easy-to-understand explanations on the accounting of financial instruments, covering their measurement, presentation, recognition, and disclosures.
From my guess, it’s FVTPL investments held for trading purposes or Financial assets/Liabilities combined (Parent+Subsidiary) on the face of the Consolidated financial statements, mainly on Consolidated SOFP.
Gopal Somani is a Chartered Accountant and Company Secretary. He is State level Ranker (3rd) in 12th and university Ranker (5th) in B. COM and AIR 34 in CMA Inter. He has started this Youtube channel to help the students in understanding some of the important and difficult topics in very simple manner...
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