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IFRS9 financial enstrument

Mmiyu13y ago
kaplan text says;
initial recognition of a financial asset is measured at fair value.This is likely to be purchase consideration paid, and will normally "exclude" transactions costs.

Opentuition;
all financial instruments to be measured at fair value "inclusive" of transaction costs

which is correct? transaction cost is include or exclude?
MikeLittleMikeLittleTutor13y ago#1
I don't have my notes available. Let me refer you to Tom Clendon's articles in Student Accountant which give a pretty good summary of IFRS 9 - you'll find them in the technical articles of P2 pages.

the OpenTuition notes are, not unusually, written / reviewed only annually and there are occasions, thankfully few!, when something comes out of my head wrongly. If that's really what the notes say, then please accept my apologies
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