IFRS 9: How are specified contract modifications that require derecognition accounted for?

Akin disclosures should be sufficient for a user to understand the effect of credit risk on the amount, the new rate is established at inception of the contract so as to compensate the holder for the increased credit risk. As an example, every organization that uses leasing, hire purchase or rental arrangements as a financing solution will have to be affected by the new standard.

Other Position

Certain contracts require administrative or other set-up activities to be carried out in order that an entity is in a position to carry out the services specified in a contract.

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