There are lifetime expected credit loss of a financial instrument and 12 months expected credit loss of it. So 12 months expected credit loss is a portion of lifetime expected credit loss.
the default is not defined, the company needs to set a policy on what is considered default.
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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