Question
How shall an entity subsequently measure financial liabilities? Is IFRS measurement of financial liabilities similar to that of U.S. GAAP? Also briefly describe the requirements
How shall an entity subsequently measure financial liabilities? Is IFRS measurement of financial liabilities similar to that of U.S. GAAP?
Also briefly describe the requirements regarding an option to designate a financial liability at fair value through profit and loss. Does U.S. GAAP allow fair value option for financial assets and liabilities?
What is own credit issue related to financial liabilities measured at fair value through profit and loss? How does IFRS 9 address this own credit issue? Tip: Read page 12 of http://www.ifrs.org/Current-Projects/IASB-Projects/Financial-Instruments-A-Replacement-of-IAS-39-Financial-Instruments-Recognitio/Documents/IFRS-9-Project-Summary-July-2014.pdf Click Cancel when requested for credentials, then click OK.
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Audit And Accounting Guide State And Local Governments
Authors: AICPA
1st Edition
1945498587, 978-1945498589
