Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as
either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a
residual interest in the assets of the company after deducting all of its liabilities.
Basic financial instruments
Other creditors
Other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial
recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a
financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the
present value of future payments discounted at a market rate for a similar debt instrument.