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Good Afternoon,
Company A has acquired a debt investment from Company B. The investment is paid for at a premium in relation to its par value. Therefore, there exists a premium.
Company A applies Amortized Cost Model under IFRS 9 for investments in debt instruments.*Please note this is financial asset and not a financial liability.
How do I account for the above accounting scenario? I’m unclear as to how to proceed with amortizing this investment, particularly with the premium paid on acquisition of the bond.
Thank you.
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