Question 1

• A commercial company purchased a five-year bond on 1 January 2019 at a cost of OMR 54,000,000. The rate of annual interest on the investment was 10%. Which is also the effective rate payable on 31 December every year. At the reporting date of 31.12.2019, interest has been received as expected and the market rate of interest increased to 12% now.

  Required: (a) Calculate the value of asset on 31.12.2019 on FVTPL basis