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Hi sir,
At the date of acqusition, all the identifiable net asset should be measured at fair value and subsequenly using the same accounting policies with the group.For example, if company held a bond at amortised cost and it is company’s policy as well to hold similar bond at amortised cost.
How should we account for this?
Do we need to revalue the carrying amount of bond and continue amortise like normal? or revalue at fair value then amortised from that amount?What a great question!
I think we would measure at FV, and then, as you say, amortise from that amount.
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