Ifrs
This query is : Resolved
Manik jain
(Querist)
22 January 2014
Please help me on the below given problem:
our company recognized a financial liability (say some shares). as per IAS 32 and IAS 39 these are initialy recognized at Fiar value (computed under IFRS 13). now the question is what will be the journal entry in next reporting date if the value of financial liability increases?
our company recognized a financial liability (say some shares). as per IAS 32 and IAS 39 these are initialy recognized at Fiar value (computed under IFRS 13). now the question is what will be the journal entry in next reporting date if the value of financial liability increases?
Amit Ashok Chawla
(Expert)
07 June 2014
Financial Liabilities are recognised at fair value on day 1 (initial measurement) and at cost (usually) on subsequent measurement. You need to only account for the interest portion on the liability (accruing over the period) and reduce it by any payments. No other entry is required.
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