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interdependent (such as a callable convertible debt instrument) it shall disclose the existence of those features

Defaults and breaches

18. For loans payable recognised at the reporting date, an entity shall disclose:

(a) details of any defaults during the period of principal, interest, sinking fund, or redemption terms of those loans payable;

(b) the carrying amount of the loans payable in default at the reporting date, and

(c) whether the default was remedied, or the terms of the loan payable were re-negotiated, before the financial statements were authorised for issue

Unlikely to arise

19. If, during the period, there were breaches of loan agreement terms other than those described in paragraph 18, an entity shall disclose the same information as required by paragraph 18 if those breaches permitted the tender to demand accelerated repayment (unless the breaches were remedied, or the terms of the loan were re-negotiated, on or before the end of the reporting period

Unlikely to arise

Statement of comprehensive income

Items of income, expense, gains or losses

20. An entity shall disclose the following items of income, expense, gains or losses, either in the statement of comprehensive income or in the notes:

(a) net gains or losses on:

    (i) financial assets or financial liabilities at fair value through profit

    or loss, showing separately those on financial assets or financial

    liabilities designated as such upon initial recognition, and those on

    financial assets or financial liabilities that are classified as held for

    trading in accordance with IAS 39

(a) (i) Two lines (for financial assets and financial liabilities at fair value through profit or loss) are given in the note ‘Other gains and losses’.  It is assumed that NHS bodies will not have financial assets or financial liabilities designated as at fair value through profit or loss upon initial recognition therefore no lines are provided for these.

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