Question
In a troubled debt restructuring in which the debt is continued with modified terms, a gain should be recognized at the date of restructure, but
In a troubled debt restructuring in which the debt is continued with modified terms, a gain should be recognized at the date of restructure, but no interest expense should be recognized over the remaining life of the debt, whenever the
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| carrying amount of the pre-restructure debt is greater than the total future cash flows. |
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| present value of the pre-restructure debt is less than the present value of the future cash flows. |
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| carrying amount of the pre-restructure debt is less than the total future cash flows. |
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| present value of the pre-restructure debt is greater than the present value of the future cash flows |
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New Approach To Financial Accounting No Need Of Cramming Formats
Authors: Samuel A. Olowoniyi ACA
1st Edition
148253150X, 978-1482531503
