Accounting for Investments, Fixed Income Securities and Interest Rate Derivatives by R. Venkata Subramani

Accounting for Investments, Fixed Income Securities and Interest Rate Derivatives by R. Venkata Subramani

Author:R. Venkata Subramani
Language: eng
Format: epub
Publisher: John Wiley & Sons, Ltd.
Published: 2011-05-17T16:00:00+00:00


In accounting for a transfer of a financial asset that does not qualify for derecognition, the entity shall not offset the transferred asset and the associated liability. (IAS 32 Para 42)

The financial assets and financial liabilities should be presented on a net basis when doing so reflects an entity’s expected future cash flow from settling two or more separate financial instruments. When an entity has the right to receive or pay a single net amount and intends to do so, it has, in effect, only a single financial asset or financial liability. In other circumstances, financial assets and financial liabilities are presented separately from each other consistently with their characteristics as resources or obligations of the entity. (IAS 32 Para 43)



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