Under U.S.GAAP, a company can designate a receivable, upon initial recognition, to be recognized at fair value without meeting any criteria.IFRS has established qualifying criteria for fair value designation.
Required:
Describe the IFRS qualifying criteria that must be met to designate a receivable as fair value.

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The Answer of Under U.S.GAAP, a company can designate a receivable, upon initial recognition, to be recognized at fair value without meeting any criteria.IFRS has established qualifying criteria for fair value designation.
Required:
Describe the IFRS qualifying criteria that must be met to designate a receivable as fair value.

Under USGAAP, a Company Can Designate a Receivable, Upon Initial Recognition