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Hi Mike,
Just had a thought jogged by the exam forum, In the exam yesterday it asked for advice on someone using the expected credit loss method for finacial instruments.
I think i wrote (as its the most recent student artlce) that at the moment this cant be done because they use the incurred loss method, with the expected loss being somewhere the IASB want to move to based on the 2013 exposure draft. I explained how both worked just in case, but is that correct as i cant see any newer documents stating the expected credit loss had actually been enforced yet?
Thanks again,
That sounds good to me – how many marks was it worth and how much did you write?
I think it was 7 or 5 it was only a small part of question 2 b (I think) but I wrote about a page either way. I know its too much for 5 but I was compensating for a five marker I didn’t know!
Or it may have been 9! I’m pretty sure it was 7 though :/ sorry it blurs into one afterwards.
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