The session's introduction will serve to clarify what we mean, within the context of the session's objectives, by financial instruments. Also, we will distinguish between an issuer and a holder of a financial instrument, whilst defining financial assets, financial liabilities and equity.During the first part of the session, we shall delve into financial assets under GAPSME. Attendees shall be guided as to how to classify and measure financial assets when applying GAPSME.The second part of the session shall also tackle the classification and measurement of financial assets, but this time, the analysis will be from an IFRS perspective. Attendees will notice that the thought process changes considerably, compared to GAPSME.Part three of the session will be dedicated to the concept of impairment of financial assets. We will be comparing and contrasting the GAPSME incurred loss model with the IFRS expected credit loss model.During the rest of the session, we will be mainly looking at financial instruments contracts from the issuer's point of view. Moreover, as we approach the end of this CPE session, the focus shall be on equity and financial liabilities.The session is also expected to cover some special considerations in connection with financial instruments, but these will be sprinkled throughout the different parts of this CPE.We'll wrap up the session with a concluding summary that is expected to leave participants with renewed clarity in relation to the accounting for financial instruments under IFRS and GAPSME.