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30 Alexandra – part b.
The answer: “Interest revenue relating to the loan should continue to be calculated on the GROSS carrying amount of the loan as it is not considered to be credit-impaired”.
I am confused How to calculate the interest income 30/4/X1 which based on gross carry amount ($31m) or $29m ($31m – $2m). Thanks !
I’m not sure what kit you are using.
If you are stage 1 or 2 – IRR x Financial asset
If you are stage 3 – IRR x (Financial asset minus allowance)