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What is the IFRS treatment for Trade payables? Are they financial liabilities? Can I state at cost or discounted values?
in IAS 39 - Financial Instruments: Recognition and Measurement by Level 2 Member (3.9k points)
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Trade payables are financial liabilities and classified as other financial liabilities.Initially they are measured at fair value plus transaction cost. Usually the transaction price may be the initial fair value of the creditor. Subsequently they are measured at amortized cost using the effective interest rate method.
by Level 1 Member (2.1k points)
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