Describe the categories into which IAS 39, Financial Instruments: Recognition and Measurement, requires financial assets and liabilities

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Describe the categories into which IAS 39, Financial Instruments: Recognition and Measurement, requires financial assets and liabilities to be classified. For each category, explain how they should be measured in the statement of financial position. If measured at fair value, the explanation should include how changes in fair value of the financial instruments are treated in the financial statements.

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