This section introduces some concepts used with asset-level Expected Credit Losses (ECL) for IFRS accounting bases.
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Stage 1. Have not deteriored significantly in credit quality or have low credit risk.
Stage 2. Deteriorated significantly in credit qualtity since initial recognition (unless low credit risk at reporting date) and not having objected evidence of impairment.
Stage 3.
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Objected evidence of impairment at reporting date.
About Event Priority for Asset-Level ECL Events.
WRITERS NOTE: NEW 10/2020 Needs review
In Eagle Accounting every event has an event priority which tells the system in what order to process events when rollback replay occurs. The event priority for Asset-Level Expected Credit Loss events ensures that ECL events are processed subsequent to any open and close transactions that occur on the same trading day with the exception of Impairments. This ensures more accurate ECL processing because the calculation for ECL is typically based on the end of day position of the underlying asset. For more information, see About Event Types and Event Priorities.
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