This provision excludes ‘financial assets’, which are defined as financial assets for accounting purposes. The paragraph goes on to set out a non-exhaustive list of assets to be regarded as financial assets.


A financial asset is defined in the FRS102 Glossary as any asset that is:


an equity instrument of another entity;

a contractual right: (i) to receive cash or another financial asset from another entity, or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.