IFRS 9 states that the Expected Credit Loss for Financial Guarantees and Loan Commitments to be termed as "Provisions", few queries arising are
A) What is the difference in the treatment of Allowance and Provision (in Balance Sheet and P&L)? B) How is the undrawn portion in Overdrafts (or other Revolving Credit facilities) treated?
C) For a single account with both a drawn portion and an undrawn portion, will the Balance sheet have both the Allowance and the Provision line items?
Responses to these queries will be greatly appreciated.