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I was confused regarding treatment of issue costs of loan or shares for financial assets and financial liablities
For financial assets and liabilities NOT measured at fair value through profit or loss transaction costs are included
Just remember that!
But sir what do we exactly do , do we subtract from asset amount or add to it
If it’s a financial asset not at fair value through profit or loss, then the transaction costs are included within the asset value. If it’s a financial asset that IS valued at fair value through profit or loss, the transaction costs are deducted from the asset and shown as an expense within the statement of profit or loss as a finance charge
OK?
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