FVTPL definition
Examples of FVTPL in a sentence
Financial liabilities are classified as FVTPL or other temporary liabilities.
Financial assets are classified into one of the following four categories: FVTPL; held-to-maturity investments; loans and receivables; and available-for-sale.
By default, all other financial assets are subsequently measured at FVTPL.
Financial assets at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss.
All financial assets are recognized initially at fair value, plus in the case of financial assets not recorded at fair value through profit or loss (FVTPL), transaction costs that are attributable to the acquisition of the financial asset.
All financial liabilities are subsequently measured at amortised cost using the effective interest method or at FVTPL.
On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.
Financial assets that are held for trading or are managed and whose performance is evaluated on a fair value basis are measured at FVTPL.
Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss.
Since amounts were previously recognized at FVTPL under IFRS, this will result in a presentation reclassification difference.