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Hi Tutor,
Thanks for the class. Please, I am not sure why we have used 15.4 as the carrying amount instead of 13.9 and then subtracted the expense to get the fair value amount
Please clarify
Company has a policy of revaluation.
IFRS 5 requires that, if the policy is revaluation, you must:
1. Revalue to FV at date of classification as HFS.
2. Compare FV with FV less costs to sell – resultant loss to P&LImpact is that selling costs will go to P&L.
Very irritating rule but we are stuck with it.
🙂
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