This assignment requires you to prepare a report to evaluate and comment on information regarding financial instruments provided in the annual report of any company of your choice listed on the Pakistan stock exchange (PSX). Your comments or evaluation should comply with the requirements of relevant Pakistani accounting standards. The Securities and Exchange Commission of Pakistan (SECP) is responsible for adopting and promulgating accounting standards in Pakistan. The SECP has delegated this responsibility to the Institute of Chartered Accountants of Pakistan (ICAP), who has adopted the majority of the IFRS except for IFRS 1. The student is required to address the following questions in his assignment;

1. Discuss the recognition for financial instruments including financial asset, financial liabilities, and equity instruments according to relevant ICAP standards.
2. Discuss the measurement of finical instruments according to relevant ICAP standards.
3. Identify different types of financial instruments available in the chosen company. Provide at least one example of each type of financial instrument available in the chosen company and specify recognition and measurement of that financial instrument.
4. From the perspective of the investors, discuss the potential impact of the adoption of majority of IFS adopted by ICAP on assets, liabilities, financial performance and one of selected financial ratios (such as company performance ratio) of the chosen company.