Write about the Implementation of IFRS 7 standard and give an example of a real company.

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IFRS 7 or the standards issued by the IASB that governs disclosure requirements on financial instruments has been both accurately and inaccurately understood by many individuals responsible for implementing the standards, especially in the context of their reporting companies’ financial position and performance. For instance, it is a fact that management must explain the internal metrics used in connection with management and measurement of financial risks. However, it is fiction to assume that the standard pertains to banks and other financial institutions only. Additionally, IFRS 7 has...

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