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IFRS 9 tips

Impairmemt of Financial assets

This involves two approaches
1. General approach (With 3 stages)
2. Simplified approach (With 1 stage and apply to financial assets without significant financing component)

Expected credit loss is calculated as = PD x LGD

where PD = probability of default
LGD = Loss given default

General approach
stage 1 - 12 month expected credit loss
This is recognised on the initial recognition of the financial asset as this represents the inherent cost of investing.

Interest is calculated on Gross carrying amount for financial asset classfied at amortised costs under stage 1,

Stage 2
This will be due to increased risk of default by the borrower.
still interest income is calculated on gross carrying amount.

Record the movement in expected credit loss from stage 1

Stage 3
This is when the financial asset is credit impaired totally
interest is calculated on adjusted carrying amount, net of expected credit losses.

Still for expected losses, record the movement.

20/07/2021

IFRS 10 principles

How to calculate consolidated profit on the disposal of subsidiary (control lost):

First derecognise all assets and liabilities of the sub including goodwill on the date of disposal,
Secondly derecognise NCI portion as the subsidiary nolonger exist,
Thirdly add the consideration received
lastly add fair value of the remaining shares or option if applicable

The difference of the above amounts will be profit or loss from subsdiary disposal

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Address

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