Upfront or processing fee on loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2012
Please advice about accounting treatment of processing or upfront fee paid for a loan under IFRS and IGAAP.
1. to be amortised over the period of loan or completely charged off in the year of loan acquired
1. to be amortised over the period of loan or completely charged off in the year of loan acquired
14 January 2012
The upfront interest paid has to be amortised over the period of loan.
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