cuongtd

IFRS 16 Appendix B In-substance fixed lease payments

by

Topics hide IFRS 16 Leases IFRS 16 Appendix B In-substance fixed lease payments Lessee involvement with the underlying asset before the commencement date Costs of the lessee relating to the construction or design of the underlying asset Legal title to the underlying asset IFRS 16 Leases IFRS 16 Appendix B In-substance fixed lease payments Application … Read more

Initial direct costs

by

Incremental costs of obtaining a lease that would not have been incurred if the lease had not been obtained, except for such costs incurred by a manufacturer or dealer lessor in connection with a finance lease.         IFRS terms or definitions come from the Official Journal of the European Union (© European … Read more

IFRS 9 Objective Scope

by

Topics hide IFRS 9 Financial instruments IFRS 9 Objective Scope Objective Scope IFRS 9 Financial instruments IFRS 9 Objective Scope Objective 1.1 The objective of this Standard is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their … Read more

IFRS 16 Appendix B Lessor lease classification

by

Topics hide IFRS 16 Leases IFRS 16 Appendix B Lessor lease classification Sublease classification IFRS 16 Leases IFRS 16 Appendix B Lessor lease classification Application Guidance to paragraphs 61 – 66 B53 The classification of leases for lessors in this Standard is based on the extent to which the lease transfers the risks and rewards … Read more

IFRS 15 Customers unexercised rights and breakage

by

IFRS 15 Customers unexercised rights and breakage INTRO An entity may receive a non-refundable prepayment from a customer that gives the customer the right to receive goods or services in the future. Common examples include gift cards, vouchers and non-refundable tickets. Typically, some customers do not exercise their right – this is referred to as … Read more

IFRS 15 Customers unexercised rights

by

Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Customers unexercised rights IFRS 15 Revenue from contracts with customers IFRS 15 Customers unexercised rights B44 In accordance with paragraph 106, upon receipt of a prepayment from a customer, an entity shall recognise a contract liability in the amount of the prepayment for its … Read more

5 steps in IFRS 15 – best quick read

by

Topics hide 5 steps in IFRS 15 The 5 steps in IFRS 15 Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when or … Read more

Bill-and-hold arrangements in IFRS 15

by

Bill-and-hold arrangements Bill-and-hold arrangements occur when an entity bills a customer for a product that it transfers at a point in time, but retains physical possession of the product until it is transferred to the customer at a future point in time. This might occur to accommodate a customer’s lack of available space for the … Read more

IFRS 15 Bill-and-hold arrangements

by

Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements B79 A bill-and-hold arrangement is a contract under which an entity bills a customer for a product but the entity retains physical possession of the product until it is transferred to … Read more