It sounds like amortised cost during your time in the industry...

It sounds like amortised cost during your time in the industry was quite different to the present requirements.

Under the present requirements those cash flow forecasts must be reestimated each balance date. Amortised cost for credit impaired assets is essentially a discounted cash flow method with the difference the discount rate is set and forget at origination (effectively the IRR based on original estimate), but not the cash flow re-estimates. Revaluation gains (including above the original purchase price, but less than par plus accrued interest) and losses will arise with the corresponding amount to income.