Disclosure and presentation

Disclosure of Risk Management Policies 
50. 
An entity shall describe its financial risk management objectives and 
policies, including its policy for hedging each major type of forecasted 
transaction for which hedge accounting is used.
51. 
The standards do not prescribe either the format of the information required to be 
disclosed or its location within the financial statements. With regard to recognized 
financial instruments, to the extent that the required information is presented on 
the face of the statement of financial position, it is not necessary for it to be 
repeated in the notes to the financial statements. With regard to unrecognized 
financial instruments, however, information in notes or supplementary schedules 
is the primary means of disclosure. Disclosures may include a combination of 
narrative descriptions and specific quantified data, as appropriate to the nature of 
the instruments and their relative significance to the entity. 
52. 
Determination of the level of detail to be disclosed about particular financial 
instruments is a matter for the exercise of judgment taking into account the 
relative significance of those instruments. It is necessary to strike a balance 
between overburdening financial statements with excessive detail that may not 
assist users of financial statements and obscuring significant information as a 
result of too much aggregation. For example, when an entity is party to large 
numbers of financial instruments with similar characteristics and no one contract 
is individually significant, summarized information by reference to particular 
classes of instruments is appropriate. On the other hand, specific information 
about an individual instrument may be important when that instrument represents, 
for example, a significant element in an entity’s capital structure.
53. 
Management of an entity group’s financial instruments into classes that are 
appropriate to the nature of the information to be disclosed, taking into account 
matters such as the characteristics of the instruments, whether they are recognized 
or unrecognized and, if they are recognized, the measurement basis that has been 
applied. In general, classes are determined on a basis that distinguishes items 
carried on a cost basis from items carried at fair value. When amounts disclosed in 
notes or supplementary schedules relate to recognized assets and liabilities, 
sufficient information is provided to permit a reconciliation to relevant line items 
on the statement of financial position. When an entity is a party to financial 
instruments not dealt with by this Standard, such as obligations under retirement 
benefit plans or insurance contracts, these instruments constitute a class or classes 
of financial assets or financial liabilities disclosed separately from those dealt with 
by this Standard.

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FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION 
IPSAS 15 
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PUBLIC
SEC
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OR