Business, 18.03.2021 01:50 litman876

IFRS allows financial assets with a predictable cash flow to be measured at amortized cost, subject to an impairment test, if the firm's business model is to hold them to collect cash flows from interest and principal payments. Given that reliance on manager intent is a shifting sand upon which to base a measurement approach (Section 7 .2.1), and that management determines the firm's business model, why would a standard setter who wishes to minimize opportunistic manager actions allow the accounting to depend on the firm's business model

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