Derecognition of financial assets under FRS 102
1 Articles
1 Articles
Derecognition of financial assets under FRS 102
standfirst: Azhar Rana, partner at PKF Littlejohn, examines the FRS 102 accounting principles of debt securitisation and derecognition of financial assets and how to avoid the pitfallsA non-bank lending business is usually financed through substantial borrowings obtained from credit institutions. As the lending business grows, it may sell part of its loan book to obtain additional funding for new business.Such transactions often require complex …
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