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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?
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