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Reading through IFRS, I got the feel that except for simple loans, others must to be carried at fair value with gains and losses to Income Statement.
What is the term to be used in Statement of Financial Position for these simple loans,
when we put them as assets?
and when we put them as liabilities?In Devro plc 2012 accounts they are called “Derivative financial assets” and “Derivative financial liabilities” respectively.
So far as I am aware, you can call them “Humpty Dumpty” so long as there is an explanatory note within the financial statements clearly giving all pertinent details of the financial assets and liabilities
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