Feedback from GRAP 104 Financial Instruments Reference Group

Did you know the Secretariat has developed 13 Fact Sheets on the application of GRAP 104 (revised 2019)? The Fact Sheets are summaries of the requirements of GRAP 104 on certain sections/financial instruments. They use simpler language than the Standard itself.  

At the October 2024 reference group meeting, members reviewed the Fact Sheets on Investments in residual interests and Investments and loans receivable. Minor amendments were made to the Facts Sheets. 

The reference group revisited previous topics that remain a challenge to account for or where there are differing views in practice. These topics include unallocated deposits, consumer deposits and debtors with interest-free extended payment terms. Some recent issues identified on financial instruments were also discussed. These relate to employee benefits and unspent conditional grants. 

The Fact Sheets and the presentation on the topics discussed by the reference group are available in the Supporting Adoption of Standards library on the ASB website.  

Disclaimer  

The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.