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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 [IFRS 17 Insurance contracts – Fair value approach] An entity can elect to use the fair value approach if the full retrospective approach is impracticable, and it should use the fair value approach if the modified retrospective approach is impracticable. Applying the fair value approach: The contractual … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 IFRS 16 Leases introduced the term ‘Assets of low value’. IFRS 16 does not provide much guidance to assess what ‘low value’ means. There is no definition. The value referred to as ‘low value’ is the value of the asset when it was new, regardless of the … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Topics hide IFRS 15 Volume discounts and Margin guarantees – Volume discounts IFRS 15 Volume discounts and Margin guarantees – Profit margin guarantees IFRS 15 Volume discounts and Margin guarantees Related posts: IFRS 15 Volume discounts and Margin guarantees – Volume discounts To entice customers to buy/order … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 15 Software industry obligations – This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? Topics hide Scenario A IFRS 15 Software industry obligations Scenario B Scenario C Scenario D 1 Scenario D 2 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 15 Property development obligations – IFRS 15 Revenue from Contracts with Customers (contents page is here) introduced a single and comprehensive framework which sets out how much revenue is to be recognised, and when. The core principle is that a vendor should recognise revenue to depict … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 06/03/2020 INTERNATIONAL FINANCIAL REPORTING STANDARD 15 REVENUE FROM CONTRACTS WITH CUSTOMERS # 1 Topics hide OBJECTIVE Meeting the objective SCOPE RECOGNITION Identifying the contract Combination of contracts Contract modifications Identifying performance obligations Promises in contracts with customers Distinct goods or services Satisfaction of performance obligations Performance obligations satisfied … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 20/03/2020 Topics hide IFRS 15 Best and improved revenue for Telecoms – Setting the stage – the services in the market and distributors The short version The 5 Step mode Step 1: Identify contract Contract modifications Master service agreements or Family share plans Step 2: Identify performance obligations … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/03/2020 IFRS 13 The best Fair value fundamentals discusses the key concepts in the fair value standards, including the definition of fair value, inputs to fair value measurements, and the fair value hierarchy. It also addresses certain issues associated with the application of these concepts. Topics hide 1 … Read more

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 10/03/2020 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors In the header of this page a link to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors is provided and below all topics relating to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors … Read more