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cuongtd Last update 19/08/2019 An entity, other than an investor-owned entity, that provides dividends, lower costs or other economic benefits directly to its owners, members or participants. For example, a mutual insurance company, a credit union and a co-operative entity are all mutual entities. A mutual company is a private firm that is owned by its customers … Read more
Last update 02/12/2019 Disclosures unconsolidated structured entities – The level of disclosure in respect of unconsolidated structured entities will depend on the facts and circumstances of the entity but is likely to be more complex for a bank or other financial institution. Disclosures will be in table forms specifying the following attributes [IFRS 12 26]: … Read more
Last update 28/12/2019 Multi-period excess earnings method – Generally, the primary asset of a company is valued using the Multi-period excess earnings method (MPEEM), while a secondary intangible asset is valued using one of the other methods. The majority of acquired, going-concern companies own at least one asset that would be expected to be valued … Read more
Last update 29/11/2019 Disclosures subsidiaries and NCI – IFRS 12 requires disclosures for each of an entity’s subsidiaries that have material non-controlling interests. Such disclosures assist users when estimating future profit or loss and cash flows (for example, by identifying the assets and liabilities that are held by subsidiaries, risk exposures of particular group entities, … Read more
Last update 04/01/2020 IFRS: Multi-employer pension plans are defined contribution plans (other than state plans) or defined benefit plans (other than state plans) that: pool the assets contributed by various entities that are not under common control; and use those assets to provide benefits to employees of more than one entity, on the basis that … Read more
Last update 28/11/2019 Disclosures Risk management strategy – The risk management strategy has to be described by type of risk, and this description has to include how each risk arises and how, and to what extent, the risk is managed. This description must also include whether the entity hedges only a part of the risk … Read more
Last update 05/01/2020 Most advantageous market – The market that maximises the amount that would be received to sell the asset or minimizes the amount that would be paid to transfer the liability, after taking into account transaction costs and transport costs. Principal market – The market with the greatest volume and level of activity … Read more
Last update 03/12/2019 Disclosures material joint ventures – The disclosures may be aggregated for interests in similar entities, with the method of aggregation being disclosed (aggregation resembling/replacing consolidation). A quantitative and qualitative analysis, taking into account the different risk and return characteristics of each entity, is made in order to determine the aggregation level. IFRS … Read more
Last update 19/08/2019 Units of currency held and assets and liabilities to be received or paid in a fixed or determinable number of units of currency. For translation of the amounts in foreign currency to your functional currency, the standard IAS 21 states that you should re-calculate all items after initial recognition using exchange rate based … Read more
Last update 03/12/2019 Disclosures material joint operations – Unlike joint ventures, IFRS 12 requires only limited quantitative disclosures for joint operations, including information about significant judgments and assumptions made in determining the classification of a joint arrangement that is structured through a separate entity. [IFRS 12 7 (c) and IFRS 12 21 (a)] Disclosures material … Read more