Disclosure and presentation

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IPSAS 15 
389
PUBLIC
SEC
T
OR
IPSAS 15—FINANCIAL INSTRUMENTS:
DISCLOSURE AND PRESENTATION 
Acknowledgment 
This International Public Sector Accounting Standard (IPSAS) is drawn primarily 
from International Accounting Standard (IAS) 32 (Revised 1998), Financial 
Instruments: Disclosure and Presentation published by the International 
Accounting Standards Board (IASB). Extracts from IAS 32 are reproduced in this 
publication of the International Public Sector Accounting Standards Board 
(IPSASB) of the International Federation of Accountants (IFAC) with the 
permission of the International Financial Reporting Standards (IFRS) Foundation.
The approved text of the International Financial Reporting Standards (IFRSs) is 
that published by the IASB in the English language, and copies may be obtained 
directly from IFRS Publications Department, First Floor, 30 Cannon Street, 
London EC4M 6XH, United Kingdom. 
E-mail: 
[e-mail]
Internet: 
www.ifrs.org
IFRSs, IASs, Exposure Drafts, and other publications of the IASB are copyright of 
the IFRS Foundation. 
“IFRS,” “IAS,” “IASB,” “IFRS Foundation,” “International Accounting 
Standards,” and “International Financial Reporting Standards” are trademarks of 
the IFRS Foundation and should not be used without the approval of the IFRS 
Foundation. 

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IPSAS 15 
390
December 2001 
IPSAS 15—FINANCIAL INSTRUMENTS:
DISCLOSURE AND PRESENTATION 
CONTENTS 
Paragraph 
Objective 
Scope ............................................................................................................
1–8 
Definitions ...................................................................................................
9–21 
Presentation ..................................................................................................
22–47 
Liabilities and Net Assets/Equity ..........................................................
22–28 
Classification of Compound Instruments by the Issuer ........................
29–35 
Interest, Dividends, Losses and Gains ..................................................
36–38 
Offsetting of a Financial Asset and a Financial Liability ..................... 39–47 
Disclosure ....................................................................................................
48–101 
Disclosure of Risk Management Policies .............................................
50–53 
Terms, Conditions and Accounting Policies .........................................
54–62 
Interest Rate Risk ..................................................................................
63–72 
Credit Risk ............................................................................................
73–83 
Fair Value .............................................................................................
84–94 
Financial Assets Carried at an Amount in Excess of Fair Value ..........
95–97 
Hedges of Anticipated Future Transactions ..........................................
98–100 
Other Disclosures ..................................................................................
101 
Transitional Provision ..................................................................................
102 
Effective Date .............................................................................................. 103–104 
Implementation Guidance 
Illustrative Examples 
Comparison with IAS 32 
 

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FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION 
IPSAS 15 
391
PUBLIC
SEC
T
OR
International Public Sector Accoutning Standard 15, Financial Instruments: 
Disclosure and Presentation is set out in the objective and paragraphs 1
104. All the 
paragraphs have equal authority. IPSAS 15 should be read in the context of its 
objective and the Preface to International Public Sector Accounting Standards. 
IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors, 
provides a basis for selecting and applying accounting policies in the absence of 
explicit guidance. 

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FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION 
IPSAS 15 
392