Impairment of financial assets

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November 18, 2019 at 5:46 am #552951
rishabbohra98
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Under the impairment rules for IFRS 9 the only model stated in notes is Expected credit loss model. However an articles on ACCA webiste entitled “Impairment of financial assets”
contains “Incurred loss” approach under IAS 39 and two stage approach.
So i needed clarity with respect to this.
Is ias 39 impairment relevant?
Which of the above is examinable?
November 18, 2019 at 3:47 pm #553006
Stephen Widberg
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Incurred loss model no longer used.
Re. 2 stage approach – sometimes used for regular receivables – where we don’t worry about Stage 1 and go straight to Stage 2 (total expected credit losses) – this point will come out as you are reviewing answers in the P&R kits
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