Hi friends
We have a requirement for amortization of fees , i am aware there is a solution on from ehp3 , but our client is on ECC 6.0 no enhancement pack, the requirement is as follows
Loan amount- 100
Arrangement fees -3
Net loan- 97
As per IFRS, we need to show loan value at 97 and Fees 2 needs to be amortised over the loan period using effective interest rate. How do we achieve this on this version since the functionality to permit discount is not available only available from ehp 3. Also is there a way to calculate effective interest rate at any given point of the transaction.
Thank you in advance
Regards
Victor
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