• Thomas Tsang

Financial assets classified from current to non-current

When receivables classified from current to non-current, it needs to be measured at fair value upon reclassification. The different will be charged to profit and loss. It is because the receivables are measured at amortised cost.


Subsequent measurement will be at amortised cost.


Financial liabilities will be measured at amortided cost. The different will be charged to profit and loss when revise the payment.


13 views0 comments

Recent Posts

See All

In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio

For change of accounting policy for PPE from cost model to revaluation model. It is not follow FRS 8 as exempted from prior year adjustment. The change will apply prospectively from the date of reva

For start up company, issue of Employee Share Option Scheme (ESOS) is a common remuneration package to employee. For accounting purpose, ESOS is required to measure it at fair value on date of grant t