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IFRS9 – Financial Liabilities

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS9 – Financial Liabilities

  • This topic has 4 replies, 2 voices, and was last updated 4 years ago by Stephen Widberg.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • October 23, 2020 at 10:19 am #592916
    chantsv
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    I’m a little stuck on the transaction costs, it says to take to the P&L, but the debit appears to be reducing the FL. So Issue Price (Dr Bank Cr FL) less transaction costs (Dr FL, Cr Creditor?) but how then do the transaction costs get expensed in the P&L? many thanks

    October 23, 2020 at 10:31 am #592918
    chantsv
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Sorry, I then assume when the Transaction costs are paid, you will Dr Creditor and Cr Bank. So I don’t see where it goes to the P&L?

    October 23, 2020 at 12:47 pm #592928
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Issue instrument

    Dr Cash Cr Liability

    Pay issue costs

    Dr Liability Cr Cash

    October 23, 2020 at 5:38 pm #592965
    chantsv
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Thank you, so essentially the transaction costs don’t go to P&L, the net is via the finance cost expense? Could you capitalise and amortise the transaction costs?

    October 24, 2020 at 12:55 pm #593016
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Your first sentence is perfect, but no capitalising please!

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    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • The topic ‘IFRS9 – Financial Liabilities’ is closed to new replies.

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