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(a) NZ IFRS 9 Financial Instruments, effective for reporting periods beginning 1 January 2018, was published in July 2014. Required: Discuss the three aspects of

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(a) NZ IFRS 9 Financial Instruments, effective for reporting periods beginning 1 January 2018, was published in July 2014. Required: Discuss the three aspects of accounting for financial instruments under NZIFRS 9 and why NZ IFRS 9 was developed. [word limit: 160 words]

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