Sir, I have some queries related to the IFRS 9 Financial Instrument
1. What is the executory contract in the IFRS 9?
2. What is the different between executory contract and financial instrument in IFRS 9?
Thank you.
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IFRS 9
6y ago#1Good question
Future to buy oil, settled in cash = financial instrument IFRS 9
Future to buy oil, settled in oil = executory contract (promise to buy oil in future) = not financial instrument = outside scope of IFRS 9
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