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How can the increase on cash equivalents and trade receivables be accounted for through fair value through profit and loss recorded ? What may be the entries?
Hi,
I’m not too sure that I understand your question. Cash is cash and is not accounted for in any other than to record cash coming in and out of the bank account. Receivables increase via credit sales and reduce via cash receipts from credit customers. Neither are fair valeue through profit or loss.
Thanks
No but sir trade receivables are always given in examples for financial assets be it Kaplan text Book or BPP are they like mentioned in a different sense to what I’m thinking which are normal credit customers, pls elaborate
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