CERTYNEX IFRS ACADEMY

Pivoine SA has, with Cobalt SA, a receivable of 300,000 and a payable of 280,000. A contract gives it the currently legally enforceable right to set off these amounts. Pivoine nevertheless settles its receivables and payables with Cobalt separately, on different dates, and has no intention either of settling on a net basis or of realising the asset and settling the liability simultaneously (case facts). How does Pivoine present these two amounts?

At their net amount, an asset of 20,000, because the legally enforceable right of set-off is enough to allow offsetting.

At their net amount, an asset of 20,000, because both amounts are owed by and to the same counterparty, in the same currency.

Separately, until the day Pivoine notifies Cobalt of its decision to set off, at which point it will present them net with no further condition.

Separately, a receivable of 300,000 and a payable of 280,000, because the intention criterion is not met.