CFM22040 - Accounting for corporate finance: Old UK GAAP excluding FRS 26: lenders: accrual accounting: balance sheet assets
You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.
The following guidance covers Old UK GAAP (applied before 2015) where FRS 26 was not applied.
Balance Sheet: Timing
The lender will first record the loan as an asset in its balance sheet when it meets the definition of an asset within FRS 5, i.e. when the lender establishes ‘rights or other access to future economic benefits as a result of past transactions or events.’
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