Add ECL to Existing Lot (ECL Transition) Scenarios for IFRS

The following scenarios describe ledger entries for adding ECL to an existing lot if you enable the ECL Transition option when you use asset-level expected credit loss (ECL) with an IFRS accounting basis. 

The entity is transitioning to the current expected credit loss model and the credit loss entry is flagged as a Transition, that is, ECL Transition = Y on the Book Asset-Level panel. The entity updates an existing lot with Expected Credit Losses of $30.

In the Book Asset-Level panel, when you set the ECL Transition option to Yes, you can flag the asset as Purchased Impaired if necessary. 

Book Asset-Level Transition for IFRS - FVOCI

The ledger entries follow for an IFRS accounting basis with an FVOCI (Fair Value - Other Comprehensive Income) regulatory category. 

Book Asset-Level Transition for IFRS – Amortized Cost

The ledger entries follow for an IFRS accounting basis with an AC (Amortized Cost) regulatory category. 

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