Derecognition of Receivable | IFRS Lectures | IFRS 9 | Repo 105 | ACCA Exam |
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- Опубликовано: 13 сен 2024
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Derecognition is the removal of a previously recognised financial asset (or financial liability) from an entity’s statement of financial position. In general, IFRS 9 criteria for derecognition of a financial asset aim to answer the question whether an asset has been sold and should be derecognised or whether an entity obtained a kind of financing against this asset and simply a financial liability should be recognised.
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The example at the end cleared all my doubts !
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Based on the last example, it implies there is a receivable and a payable of 1000 naira each