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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Diagnosed for importance decommissioning liability IFRS – IAS 36 – Impact of a decommissioning liability in determining the recoverable amount of a Cash generating unit. Topics hide At a glance Impact How does it work in practice in value in use? How does it work in practice … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Definition of equity: The residual interest in the assets of the entity after deducting all its liabilities. Equity claim: A claim on the residual interest in the assets of the entity after deducting all its liabilities. Equity interests: For the purposes of IFRS 3, is used broadly … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 19/03/2020 Contract Modifications under IFRS 15 – Just two practical examples, to better understand all kind of things for IFRS 15. On 1 January 20X1, Wireless Company enters into a two-year contract with a customer for a 2-gigabyte (GB) data plan with unlimited talk and text for CU60/month … Read more

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 06/03/2020 Topics hide Compound financial instruments – An incredible shift in accounting concepts 1 Financial instruments with payments based on profits of the issuer 2 Convertible bonds 3 Split accounting for a compound financial instrument 4 Compound instruments containing embedded non-equity derivatives 5 Hybrid instruments 6 Conversion of … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 Completely understand 1 consolidated and 2 separate financial statements is a summary of the requirements of IFRS 10 Consolidated financial statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities and IAS 28 Investments in Associates and Joint ventures and IAS 27 Separate financial … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Common control business combinations – How should an entity account for a business combination involving entities under common control? This is an important issue because common control combinations occur frequently but are excluded from the scope of IFRS 3 – the IASB’s standard on business combination accounting. … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 Commodity finance IFRS the 6 best examples – A key issue is whether the contract to deliver a non-financial item (the commodity) falls within the scope of IFRS 9 Financial Instruments. Although IFRS 9 would appear to apply only to financial assets and financial liabilities, certain contracts … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 26/02/2020 Clear IFRS 9 Fair value hedge accounting – The fair value hedge is one of three hedges defined in IFRS 9, the others are the cash flow hedge and the hedge of a net investment. Hedge accounting can bring a number of advantages over traditional accounting methods. … Read more