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:
“... aside from the financial aspect, [there] is more: the life of my work. I feel that is all I came into the world for, and have failed dismally if it is not a success.”
—Mary E. Wilkins Freeman (1852–1930)
“English audiences of working people are like an instrument that responds to the player. Thought ripples up and down them, and if in some heart the speaker strikes a dissonance there is a swift answer. Always the voice speaks from gallery or pit, the terrible voice which detaches itself in every English crowd, full of caustic wit, full of irony or, maybe, approval.”
—Mary Heaton Vorse (1874–1966)