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cuongtd (adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Changes in ownership no loss of control – Changes in a parent’s ownership interest that do not result in a change in control of the subsidiary that is a business are accounted for as equity transactions (through other comprehensive income). Thus, if the parent maintains control, it … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Changes in interest resulting in a loss of control – The loss of control of a subsidiary that is a business, other than in a non-reciprocal transfer to owners, results in the recognition of a gain or loss on the sale of the interest sold and on … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Assets acquired in an exchange transaction – Assets are usually acquired through an exchange transaction, which can be a monetary or a non-monetary exchange. The accounting for assets acquired in an exchange transaction including the recognition and measurement under IFRS is discussed in this session. Initial recognition An … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 All about discounts and rebates IAS 2 Inventory – Discounts and rebates can be offered to purchasers in a number of ways, for example trade discounts, settlement discounts, volume-based rebates and other rebates. Accounting for these reductions will vary depending on the type of arrangement. The purchaser’s … Read more
Some time ago I published an article about calculating bad debt provision in line with IFRS 9. Precisely speaking, it was about measuring expected credit loss using simplified approach for trade receivables – just to be on the safe side. Since then, I keep receiving loads of questions such as: “Why did you not use … Read more
Agriculture is a huge sector, significantly contributing to the world’s GDP. According to the World Bank, in 2018 the value added in the agricultural sector represented 10.39% on total GDP in average – which is HUGE! After all, we all need to eat. Besides its importance as an industry, agriculture is very interesting accounting subject. … Read more
Over past few months, coronavirus became the most mentioned word everywhere. No wonder – not only it takes lives of our dear ones, but it also affects our daily life in many different ways. In many countries, people cannot go to work, kids cannot go to school, shops are closed, machines are silent, the buzz … Read more
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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 05/03/2020 A closer look at IFRS 15 the new revenue model – IFRS 15 establishes principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a … Read more
Last update 14/01/2020 IFRS 3 Fair value of contingent consideration – Contingent consideration often involves the buyer transferring additional consideration to the seller if certain performance targets are met in the future. This allows the buyer to share the risk associated with the future of the business with the seller by making some of the … Read more