Impairment of Investments held in AFS

[blue_oceans79]

Kindly confirm the treatment of impairment of Bond held as AFS

Before Impairment (asset is a Bond)
Asset at Fair Value 90
Asset Face Value 100
Fair value deficit (in equity) 10

When impaired entry is made
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Impairment expense (In PnL) DR 10
Deficit on fair value (In equity) Cr 10
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While the asset is still at 90 and there is no Provisioning liability, if further provisioning is not required.

kindly confirm

Entry you have mentioned is incorrect. AFS impairment shall be taken to pl straight away.