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Best complete read IAS 24 Disclosure Related party transactions

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Topics hide Disclosure Related party transactions Presentation Materiality Key management personnel compensation Related party definition Post-employment benefit plans Transactions with related parties Comparatives Other potential disclosures Example Disclosure Related party transactions 20 Related party transactions 20(a) Parent entities 20(b) Subsidiaries 20(c) Key management personnel compensation 20(d) Transactions with other related parties 20(e) Outstanding balances arising … Read more

Related party

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A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard (IAS 24) referred to as the ‘reporting entity’). A person or a close member of that person’s family is related to a reporting entity if that person: has control or joint control … Read more

Better Communication in Financial Reporting

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Topics hide Better Communication in Financial Reporting Better Communication in Financial Reporting Better Communication in Financial Reporting Better Communication in Financial Reporting is an IFRS.org initiative to focus financial reporting on users. There is a general view that financial reports have become too complex and difficult to read and that financial reporting tends to focus … Read more

What happened in the reporting period

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Topics hide What happened in the reporting period Example disclosure – What happened in the reporting period Overview of acquisition Overview discontinued operation What happened in the reporting period There is no requirement to disclose a summary of significant events and transactions that have affected the company’s financial position and performance during the period under … Read more

IAS 1 Economic resource

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An economic resource is a right by the reporting entity that has the potential to produce economic benefits. An economic resource in general has the form of an asset. This information is provided in the financial position. Potential to produce economic benefits – Within an economic resource, a feature that already exists and will produce economic benefits … Read more

IFRS 5 Presentation and disclosure

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Last Updated on 28/01/2020 by 75385885 Topics hide IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 5 Presentation and disclosure Presenting discontinued operations IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 5 Presentation and disclosure 30 An entity shall present and disclose information that enables users of the financial … Read more

IFRS 3AG Disclosure of business combinations

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Last Updated on 07/02/2020 by 75385885 Topics hide IFRS 3 Business Combinations IFRS 3AG Disclosure of business combinations IFRS 3 Business Combinations IFRS 3AG Disclosure of business combinations Disclosures (application of paragraphs 59 and 61) B64 To meet the objective in paragraph 59, the acquirer shall disclose the following information for each business combination that … Read more

IFRS 9 Best long-read SPPI Test

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Topics hide The SPPI Test Overall assessment Money market funds Factors to consider in the SPPI Test Whether payment terms are “not genuine” or “de minimis” Rights in bankruptcy or when non-payment happens Arrangements denominated in a foreign currency Prepayment and term extending options Extending options Other contingent payment features Non-recourse arrangements The time value … Read more

at amortised cost

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Use back button from the brower Last Updated on 23/02/2021 by 75385885 At initial recognition and measurement a financial asset (subsequently) measured at amortized costs is  measured at fair value plus directly attributable transaction costs. A financial asset is classified as subsequently measured at amortised cost if (IFRS 9 4.1.1): the contractual terms of the … Read more