Ind as 109- recognition of Financial asset, Financial Liability and equity.

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Ind AS 109 prescribes the principles for recognition, measurement, presentation and disclosure of financial assets, financial liabilities and equity instruments.

Ind AS 109 applies to all financial instruments except for those specifically excluded.
Financial assets and liabilities are recognized when the entity becomes a party to the contractual provisions of the instrument.
Equity instruments are recognized when the entity becomes a party to the contractual provisions of the instrument.
Measurement of financial instruments depends on their classification.
Fair value is the default measurement for financial instruments.
Impairment losses are recognized for financial assets measured at amortized cost or fair value through other comprehensive income.
Hedge accounting is allowed under certain conditions.
Disclosure requirements include information about the nature and extent of risks arising from financial instruments.
Ind AS 109 is based on the principles of IFRS 9.

Ind as 109- recognition of Financial asset, Financial Liability and equity.

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