ECL can be assessed individually or collectively. Simplified approach is at apply life time ECL on trade receivables. But it can also be assessed individually by measuring the probability of default and loss given rate. It may be more appropriate when a company’s customers are specific to them such as in the construction industry.
Per FRS 109, para 5.1.1, financial assets such as equity instruments shall be initially measured at fair value. And subsequently measured...
In Singapore FRS 36, paragraph 96 ”The annual impairment test for a cash-generating unit to which goodwill has been allocated may be...
When there was a judgement made in prior year without concrete evidence of support. The audit should have qualified it. When in...
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