Under IFRS, derivatives are reported:
AAt cost less depreciation
BAt fair value, changes in profit
CAt face value, changes in equity
DAt replacement cost, no change
Answer & Solution
Correct answer: B. At fair value, changes in profit
Derivatives are carried at fair value and value changes flow through the income statement.
Keep practising Conceptual Framework for Financial Reporting
Browse all Conceptual Framework for Financial Reporting questions for CA Final, or explore more Financialreporting topics.
Related questions
Ind AS 107 deals with disclosures relating to which subject?Once a company adopts Ind AS, voluntarily or mandatorily:Which body recommends Ind AS to the Ministry of Corporate Affairs?Equity rose from Rs 10,00,000 to 11,50,000; owners added 60,000, dividends 20,000. ComprehConsolidated statements show parent and subsidiaries as:A cash flow statement reports activities under which three heads?Which statement is a snapshot at one date?Foreseeable future for going concern is usually: