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default method for financial assets and liabilities

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › default method for financial assets and liabilities

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by AvatarStephen Widberg.
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  • May 26, 2021 at 10:09 am #621807
    AvatarNoah098
    Member
    • Topics: 935
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    sir as far as financial assets are concerned what is the default method for them, if nothing is mentioned? FVPL for equity? and amortised cost for debt instruments?

    and what about liabilities, what is the default method to record them? Amortised cost?

    May 26, 2021 at 5:07 pm #621840
    AvatarStephen Widberg
    Keymaster
    • Topics: 17
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    FA – equities – FVPL
    FA – bonds – AC
    FL – AC (except derivatives which are FVPL).

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