Global

Details

  • Service: Audit
  • Type: Business and industry issue
  • Date: 2/3/2011

Impairment of financial assets managed in an open portfolio (2011/04) 

Discusses the IASB and FASB supplement to the exposure draft Financial Instruments: Amortised Cost and Impairment. The proposals include a common approach for impairment accounting for open portfolios of financial assets; calculation of separate impairment allowance accounts for ‘good’ and ‘bad’ books; and, in certain instances, immediate provision for expected losses.
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