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:
“In full view of his television audience, he preached a new religion—or a new form of Christianity—based on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.”
—New Yorker (April 23, 1990)
“Whoever has the luck to be born a character can laugh even at death. Because a character will never die! A man will die, a writer, the instrument of creation: but what he has created will never die!”
—Luigi Pirandello (1867–1936)