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ACCA P2 IFRS 9 – Financial liabilities
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Hi Chris
What if effective rate is not given, what rate do we use and how do calculate it please?
Hi Chris, Why do we have to remove the transaction cost from the principal sum from in the books of the issuer when the investor is receiving interest on the full amount in his books.
Hi Toka,
The transaction cost is not part of the cash received (expected) for the investment and as such can not be added as part of cash received for payment of equity, while in the investors books he considers it as part of the cash paid for acquiring the fin asset
Hi Chris,
Liking the lectures a lot. Thank you. The part about Dr the BANK £2m and because of the Transaction Costs you CR the liabilty £1.9m. Do you have to amortize the transaction costs or you CR the P&L a full £0.1m. Thanks.
Hi shimon the 0.1m will be expensed through P&L
Dr Bank 2m
Cr Fin Lia 1.9m
Cr P&L 0.1m
Hi
Surely the correct entries are
Dr Bank $2m (proceeds)
Cr Financial Liability $1.9m (net proceeds)
Cr Bank $0.1m (Transaction Costs)
Sir could you please upload the lecture on Financial Assets
No lecture on financial assets? The first lecture was on presentation & not financial assets.
No video for financial assets?