Financial instruments Derivative financial instruments - who has not heard of these concepts? In accounting, they are often, but do we know their definition?

First, financial instruments are contracted. Secondly, there are such contact, which gives rise to a financial asset of one party and a financial liability or equity instrument of another party. Thirdly - the contract concluded between two or more parties at the economic results, regardless of whether the exercise of rights or obligations under the contract is unconditional or conditional.

When the classification of assets and sources of funding, we must remember that the financial instruments do not include, in particular:

• reserves and assets for deferred income tax

• Financial guarantee contracts, which set the fulfillment of obligations under the guarantee, in the form of payment of the amounts corresponding to the losses incurred by the beneficiary as a result of non-repayment of debt by the debtor within the required time,

• contracts for the transfer of the securities in the period between the date of execution and settlement of transactions where execution of these agreements requires the issuance of securities within a specified period, even if the transfer of these rights shall be in the form of a record in a securities account maintained by an entity authorized to under separate regulations,

• assets and liabilities of the schemes, which result in the shares of employees and other persons associated with the unit in its equity,

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