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MikeLittle.
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miyu
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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 costswhich is correct? transaction cost is include or exclude?
MikeLittle
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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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