cuongtd

IAS 8 Objective Scope Definitions

by

Last update 12/02/2020 Topics hide Objective Scope Definitions Objective 1 The objective of this Standard is to prescribe the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and corrections of errors. The Standard is intended to enhance the relevance and … Read more

IAS 37 Application of the recognition and measurement rules

by

Last update 28/01/2020 Topics hide IAS 37 Application of the recognition and measurement rules Future operating losses Onerous contracts Restructuring IAS 37 Application of the recognition and measurement rules Future operating losses 63 Provisions shall not be recognised for future operating losses. 64 Future operating losses do not meet the definition of a liability in … Read more

Identifying the contract contract extensions

by

Last update 23/01/2020 Identifying the contract contract extensions – When an entity and its customer enter into a contract to renew (or extend the period of) an existing licence, the entity will evaluate whether the renewal or extension should be treated as a new licence or, alternatively, as a modification of the existing contract. A … Read more

IFRS 8 Core principle Scope

by

Core principle 1An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates. Scope 2 This IFRS (IFRS 8) shall apply to: the separate or individual financial statements of an entity: … Read more

IFRS 13 Objective and Scope

by

Objective 1 This IFRS: defines fair value; sets out in a single IFRS a framework for measuring fair value; and requires disclosures about fair value measurements. 2 Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and … Read more

IAS 39 Scope Definitions

by

1 [Deleted] Scope 2 This Standard shall be applied by all entities to all financial instruments within the scope of IFRS 9 Financial Instruments if, and to the extent that: IFRS 9 permits the hedge accounting requirements of this Standard to be applied; and the financial instrument is part of a hedging relationship that qualifies … Read more

Measurement

by

Last update 12/02/2020 Introduction 6.1 Elements recognised in financial statements are quantified in monetary terms. This requires the selection of a measurement basis. A measurement basis is an identified feature—for example, historical cost, fair value or fulfilment value—of an item being measured. Applying a measurement basis to an asset or liability creates a measure for … Read more

IAS 21 Objective Scope

by

Objective 1 An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. The objective of this Standard is to prescribe how to include foreign currency transactions and foreign operations … Read more

IAS 7 Other disclosures

by

Last update 12/02/2020 48 An entity shall disclose, together with a commentary by management, the amount of significant cash and cash equivalent balances held by the entity that are not available for use by the group. 49 There are various circumstances in which cash and cash equivalent balances held by an entity are not available … Read more