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Last update 11/11/2019 When is an asset identified is an important question in accounting for IFRS 16 Leases. Even if an asset is specified, a customer does not have the right to use an identified asset if, at inception of the contract, a supplier has the substantive right to substitute the asset throughout the period … Read more

Last update 22/12/2019 When and how to recognise Expected Credit Losses – Under IFRS 9 expected credit losses are recognised from the point at which financial instruments are originated or purchased. There is no longer a threshold (such as a trigger loss event of default) before expected credit losses would start to be recognised. With … Read more

Last update 22/12/2019 What kind of pension plans are there – There are two basic types of pension plans: defined-contribution plans and defined-benefit plans. The plans differ in how benefits to retired employees (formal: pension recipients) are determined/calculated, and who bears the ultimate risk associated with the number of future benefits to be paid to … Read more

Last update 30/11/2019 What is Useful Financial Information or more formally: Qualitative Characteristics of Useful Financial Information What is Useful Financial Information? What types of information are useful to users for making decisions about the reporting entity using the general purpose financial report compiled by the reporting entity. And equally important what are the cost … Read more

Last update 12/12/2019 The what is the SPPI test is part of the decision model for the classification and measurement of financial assets, that started in the IFRS 9 Framework for financial assets. But you can also read it without doing the test …. off course? Ok so the financial instrument to classify and measure … Read more

Last update 22/12/2019 What is the component approach – Property, plant and equipment (PPE) is often composed of various parts with varying useful lives or consumption patterns. These parts are (individually) replaced during the useful life of an asset. Therefore: What is the ‘component approach’? Each part of an item of PPE with a cost … Read more

Last update 26/12/2019 What is Property plant and equipment – Property, plant, and equipment (PP&E) is tangible items that are expected to be used in more than one period and that are used in production, for rental, or for administration. This can include items acquired for safety or environmental reasons. In certain asset-intensive industries, PP&E … Read more

Last update 23/12/2019 What is moneyness in the valuation of options – Options are instruments that belong to the derivatives family, which means its price is derived from something else (the underlying asset, items like listed shares, oil price futures, and many more). The price of an option is intrinsically linked to the price of … Read more

Last update 11/11/2019 Many if not most consumer goods are sold subject to some kind of product warranty. This includes everything from microwaves and computers to automobiles and trucks. Sales of products subject to warranties present yet another challenge to accrual accounting. What is it all about warranty accounting? What is it all about warranty … Read more

Last update 18/11/2019 What is Investment Property provides a quick introduction in a important industry that affects almost each living person and businesses. Investment property is real estate property that has been purchased with the intention of earning a return on the investment, either through rental income, the future resale of the property or both. … Read more