Please provide the guidance on following issues under IFRS 9.
1A)- Govt. bond was acquired on premium with fixed redemption & bi-annual coupon rate which classified as FVTPL (HFT). How it is to be accounting for. Is it amortized with respect to Premium paid and bond amount net of amortized cost to be revalued at fair value price at each reporting period end. Difference between FV price and amortized cost is to be charged in PL.
1B)- if bond is amortized and revalued at the reporting period end, then, at what amount bond is gonna be amortized in following period. is it only amortized cost only or amortized cost plus revalued amount.
2)- if the same bond is classified as FVTOCI, then please elaborate whats is correct accounting treatment would be under IFRS 9.
PS - Please also mark a reference to relevant para of IFRS 9 standard. so i can make a note for my future references.
Thanking you all in anticipation!
1A)- Govt. bond was acquired on premium with fixed redemption & bi-annual coupon rate which classified as FVTPL (HFT). How it is to be accounting for. Is it amortized with respect to Premium paid and bond amount net of amortized cost to be revalued at fair value price at each reporting period end. Difference between FV price and amortized cost is to be charged in PL.
1B)- if bond is amortized and revalued at the reporting period end, then, at what amount bond is gonna be amortized in following period. is it only amortized cost only or amortized cost plus revalued amount.
2)- if the same bond is classified as FVTOCI, then please elaborate whats is correct accounting treatment would be under IFRS 9.
PS - Please also mark a reference to relevant para of IFRS 9 standard. so i can make a note for my future references.
Thanking you all in anticipation!