Income, expense, gains and losses

Learning objectives

• Explain the net gains and losses by category, the total interest income and expense, and the fee income and expense to be disclosed.L2
• Identify the items that belong to the disclosures about income, expenses, gains and losses in a case.L2

Normative references

• IFRS 7 §20The entity presents in the statement of comprehensive income or discloses in the notes: net gains or losses by IFRS 9 category (fair value through profit or loss, distinguishing designated and mandatory; amortised cost; equity investments designated at fair value through other comprehensive income; assets at fair value through other comprehensive income, with the amount reclassified to profit or loss on derecognition); total interest revenue and total interest expense (effective interest method) for assets at amortised cost or at fair value through other comprehensive income (debt) and for liabilities not at fair value through profit or loss; fee income and expense not included in the effective interest rate.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• Lyra SA recognised over the year, for its loans measured at amortised cost: interest income under the effective interest method of 420,000, which already includes 30,000 of loan origination fees; and 55,000 of account maintenance fees, outside the effective interest rate (case facts). What amount of fee income does Lyra present separately, in addition to total interest income?L2
• A working file for the notes describes the disclosures on income, expense, gains and losses on financial instruments. Which of its sentences is wrong?L2