Under the ECL approach used in IFRS, impairments are only recognized for losses that occur more than a year in the future when a receivable has deteriorated in credit quality.

Question

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Under the ECL approach used in IFRS, impairments are recognized for losses that are expected to occur within the next 12 months or over the life of the receivable, whichever is shorter.

Under the ECL Approach Used in IFRS, Impairments Are Only