A financial instrument is a tradable asset of any kind; either cash, evidence of an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument.
According to IAS 32 and 39, it is defined as "any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity".
Read more about Financial Instrument: Categorization, Measuring Financial Instrument's Gain or Loss
Famous quotes containing the words financial and/or instrument:
“Just as men must give up economic control when their wives share the responsibility for the family’s financial well-being, women must give up exclusive parental control when their husbands assume more responsibility for child care.”
—Augustus Y. Napier (20th century)
“In going where you have to go, and doing what you have to do, and seeing what you have to see, you dull and blunt the instrument you write with. But I would rather have it bent and dulled and know I had to put it on the grindstone again and hammer it into shape and put a whetstone to it, and know that I had something to write about, than to have it bright and shining and nothing to say, or smooth and well oiled in the closet, but unused.”
—Ernest Hemingway (1899–1961)