The general accounting for accounts and notes receivable under IFRS

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The general accounting for accounts and notes receivable under IFRS is similar to the accounting under U.S.GAAP. This includes recognition, measurement, and subsequent measurement of these assets. Under both standards, accounts and notes receivable are initially measured at fair value and subsequently measured at amortized cost using the effective interest rate method. However, there are some differences in the disclosure requirements between IFRS and U.S.GAAP.

The General Accounting for Accounts and Notes Receivable Under IFRS