Sir,
Can you please explain the concept behind "Financial Asset can be carried at amortised cost instead of Fair value if an accounting mismatch can be shown."
Thank you
Regards,
Ask the Tutor ACCA SBR
Financial Asset
7y ago#1Hi,
Yes, if there is an equivalent similar liability that is carried at amortised cost then the financial asset is held at amortised cost too. So examples would be in the banking industry with money borrowed (FL) and lent (FA).
Thanks
Sign into reply to this topic.