ANKUR SHAH (CA Business) 08 August 2020
Can anyone tell me how to Account for interest in books, for Bond classified as Asset Fair value through Profit and loss? As every quarter Bond carrying amount will be arrived at Fair value?
yasaswi gomes 09 August 2020
FVTPL is a trading instrument held for investment purposes. It has gains or losses due to revaluations. Then for issued debt, the discounted PV amounts are taken to profit and loss. The interest received is taken to profit and loss as well. Yes, it can be fair value or amortised cost model.
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