Netting off principles in IFRS
23 August 2012
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While IFRS doesn’t allow netting off (except where there is a right to net off). Need to know few examples where an entity has a right to net off.
Background — I receive and incur fee income and expenses from various customers for various products. Can i do a net off of Asset/ Liabilities or Income/ expenses pertaining to one customer (for various portfolio) and report the net balance in the P & L or balancesheet.
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