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Sir, under IFRS 9 for derecognition of financial asset
“a fully proportionate (pro rata) share of the cash flows from an asset (or a group of similar financial assets).”
“a fully proportionate (pro rata) share of specifically identified cash flows from a financial asset (or a group of similar financial assets)”What is the difference between these two?
Thank you.
All you need to write for derecognition is words to the effect of TRANSFER OF RISKS AND REWARDS.
I have never investigated the difference in the definition – I guess an audit technical parther might be able to unravel it!
Our aim is to get you through the exam – all you need is what in our notes and whichever exam kit you are using
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