IFRS-9 – Financial Instruments

An entity shall recognize a financial asset in its statement of financial position when and only when, the entity becomes party to the contractual provisions of the instrument. A financial asset shall be measured at amortised cost when the asset is held with in a business model whose objective is to hold assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise to specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A Financial asset shall be measured at fair value unless it is measured at amortised cost.