cuongtd

Deferred tax assets

by

Last update 06/01/2020 IAS 12 Definition of deferred tax assets: The amounts of income taxes recoverable in future periods in respect of: Deductible temporary differences; The carry-forward of unused tax losses; and The carry-forward of unused tax credits. There are some key characteristics of deferred tax assets to consider. Deferred tax assets are only recognised … Read more

Change in the fair value of a bond

by

Last update 04/12/2019 Change in the fair value of a bond – The following example illustrates the calculation that an entity might perform in accordance with the application guidance in IFRS 9 B5.7.18. The case: On 1 January 20X1 an entity issues a 10-year bond with a par value of CU150,0001 and an annual fixed … Read more

Deemed cost

by

Last update 07/08/2019 An amount used as a surrogate for cost or depreciated cost at a given date. Subsequent depreciation or amortisation assumes that the entity had initially recognised the asset or liability at the given date and that its cost was equal to the deemed cost. To put it short – the introduction of deemed cost is … Read more

Change in accounting principles

by

Last update 01/12/2019 Change in accounting principles – There is an underlying presumption that an accounting principle, once adopted, should not be changed for similar events and transactions. A change in principle may be caused by new events, changing conditions, or additional information or experience. There are two circumstances when a company is required to … Read more

Deductible temporary tax differences

by

Last update 06/08/2019 Temporary differences that will result in amounts that are deductible in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled. Deferred taxes See Convertible debt option reserve to obtain an understanding of the amounts mentioned in the below table. In … Read more

Change in accounting policy?

by

Last update 22/12/2019 Change in accounting policy – Oil and natural gas properties, including related pipelines, are depreciated using a unit-of-production method. The cost of producing wells is amortized over proved developed reserves. License acquisition, common facilities and future decommissioning costs are amortized over total proved reserves. The unit-of-production rate for the depreciation of common … Read more

Debt instrument

by

Last update 06/08/2019 A debt instrument is a paper or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Types of debt instruments include notes, bonds, debentures, certificates, mortgages, leases or other agreements between a lender and a borrower. These instruments … Read more

De minimis or non-genuine features

by

Last update 09/12/2019 De minimis or non-genuine features – A contractual cash flow characteristic does not affect the classification of a financial asset if it could have only a de minimis effect on the contractual cash flows of the financial asset. To make this determination, an entity considers the possible effect of the contractual cash … Read more

Challenges in financial reporting

by

Last update 21/12/2019 Challenges in financial reporting – There are specific problems that affect the different bases of measurement available to financial reporting: historical cost, value to the business, fair value, realisable value and value in use. How the different bases work will be considered separately, but it will be helpful to look first at … Read more

De facto agent

by

Last update 05/01/2020 The de facto agent assessment is part of IFRS 10 Consolidated financial statements (i.e. assessment of control over an investee for consolidation purposes), the de facto agent is a party engaged to act on behalf of another party (the principal). A principal may delegate some of its decision authority over the investee … Read more