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All financial instruments are initially measures at a) cost b) fair value c) fair value plus or minus transaction cost?

Accounting Financial Instruments IFRS
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Question added by Shaikh Muhammad Yousuf , Manager Accounts , Al Wahdania Group of Companies
Date Posted: 2016/02/06
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Frank Mwansa
by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

C. fair value plus minus transaction cost. Financial instruments are initially measured at the fair value of the consideration given or received ( i.e cost) plus ( in most cases) transaction costs that are directly attributable to the acquisition or issue of the financial instrument.

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