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Recognition and Measurement?
Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments:
Recognition and Measurement?
A . Shares in another entity held for short term trading purposes fall within this category.
B . Transaction costs in relation to these assets are expensed to profit or loss on acquisition.
C . Transaction costs in relation to these assets are added to the initial cost of the asset on acquisition.
D . The gain or loss on the subsequent measurement of these assets is recorded within other comprehensive income.
E . The gain or loss on the subsequent measurement of these assets is recorded within profit for the year.
F . Once the asset has been subsequently measured to fair value an impairment review is undertaken.
Answer: A,B,E
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