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I have two scenario as follow for the initial recognition of financial liabilities:
1. A company obtained loan from bank of AED 10 million, bank arrangement fee is AED 75,000 and financial consulting firm fee is AED 350,000. Interest rate is Local interbank rate+7. Loan is maturity is 3 year but repayment installment will start after six months since the starting of loan duration.
At what amount should i initially recognized the loan amount at year end .
2. Secondly, finance consulting firm also arrange an equity investor, who invest AED 2 million and consulting firm charged a fee of AED 400,000. how will i treat the arrangement fee?
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