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of <h1>Understanding Ind AS 109: Recognizing Loss Allowances for Expected Credit Losses on Financial Instruments</h1> The the impairment requirements for financial assets under Ind AS 109, focusing on recognizing loss allowances for expected credit losses (ECL) on various financial instruments. It applies to investments in debt instruments, loan commitments, financial guarantee contracts, finance lease receivables, and trade receivables. Assets measured at Fair Value Through Profit or Loss (FVTPL) do not require impairment testing. Expected credit losses are measured considering the probability of default, time value of money, and available information. Different approaches to impairment include the General Approach, Simplified Approach, and Purchased/Originated Credit-Impaired Approach, depending on the increase in credit risk.
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