- This topic has 1 reply, 2 voices, and was last updated 1 month ago by .
- You must be logged in to reply to this topic.
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
A/c to IFRS 9, FA shall be derecognized,
when contractual right to receive cashflows have expired
When entity has no further contractual right to receive cashflows
When entity has transferred contractual right to receive cashflow from the asset or
When entity has retained contractual right but has unavoidable obligation to pass cashflows to 3rd party
Sir should we write all above 4 conditions for derecognition of FA?
You won’t have time (probably).
I would just mention transfer of risks and rewards.