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Last update 22/12/2019 Illustrative examples Service Concession Arrangements These examples accompany, but are not part of, IFRIC 12. Example 1: The grantor gives the operator a financial asset Arrangement terms Service Concession Arrangements IE1 The terms of the arrangement require an operator to construct a road—completing construction within two years—and maintain and operate the road … Read more

Last update 01/10/2019 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 the transfer of promised goods or services to customers in an … Read more

Last update 19/12/2019 Separation of Insurance Contracts – Before the entity accounts for an insurance contract based on the guidance in IFRS 17, it should analyse whether the contract contains components that should be separated. Insurance contracts create a bundle of rights and obligations that work together to generate a package of cash flows. Some … Read more

Last update 19/12/2019 Separation from an insurance contract – An entity applies the principles in IFRS 15 on how to separate a contract with a customer that is partially within the scope of IFRS 15 and partially within the scope of other standards. The allocation of cash flows between the host insurance contract and the … Read more

Last update 06/01/2020 Separate financial statements – IAS 27 shall be applied in accounting for investments in subsidiaries, joint ventures and associates when an entity prepares separate financial statements. The laws of some countries require companies to present separate financial statements prepared in accordance with local regulations, and those local regulations require the investments in … Read more

Last update 05/12/2019 Sensitivity analysis to market risk – Companies are required to report both qualitatively and quantitatively on their risk management strategies and the internal metrics they use for the calculation and management of risk arising from financial instruments. IFRS 7 breaks down the risk arising from financial instruments into three broad categories: market … Read more

Last update 29/11/2019 Securitisation revolving structure – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating with the initial and … Read more

Last update 29/11/2019 Securitisation all in interest rate swap retained – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating … Read more

Last update 05/12/2019 Satisfaction of performance obligations – An entity recognises revenue only when it satisfies a performance obligation by transferring control of a promised good or service to the customer. Control of an asset refers to the ability of the customer to direct the use of and obtain substantially all of the cash inflows, … Read more

Last update 26/11/2019 Satisfaction of construction performance obligations considers key implications IFRS 15 Revenue from Contracts with Customers for real estate entities. It provides an overview of the revenue recognition model in IFRS 15 with a focus on entities that: Own, operate and sell real estate Provide property management services Construct and sell residential property … Read more