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Blog posts from Annual Reporting Posts
Topics hide Acquisition of investment properties Asset acquisition or business combination New guidance (from 1 January 2020 or earlier) The concentration test Case – Acquisition of a residential real estate portfolio Framework in IFRS 3 Case – Acquisition of a residential and office real estate portfolio Case – Acquisition of a residential and office real … Read more
Topics hide Fair value measurement and pandemics Fair value measurement and pandemics Food for thought – Market downturn from pandemics Food for thought – Volume of transactions Resume Fair value measurement and pandemics The context The virus has significantly impacted the world economy. Many countries have imposed travel bans on millions of people and more … Read more
The price that would be received to sell an asset or paid to transfer a liability. IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised and/or amended) IFRS Standards … Read more
Topics hide IFRS vs US GAAP Events after the reporting date Overview Recognised events / Adjusting events Non-recognised events / Non-adjusting events Dividends Current vs non-current classification Earnings per share Disclosure of the subsequent-events date / Disclosure of the date of authorisation for issuance Discovery of a fraud after the reporting date IFRS vs US … Read more
Topics hide IFRS vs US GAAP Profit or loss and OCI Overview Definitions Format of the statement of comprehensive income / Format of the statement of profit or loss and OCI Presentation of revenue Classification of expenses Unusual or infrequent items / Additional, unusual or exceptional items Operating results Share of profit of equity-method investees … Read more
Topics hide Blockchain accounting for IFRS Holding cryptocurrencies – e.g. Bitcoin, Ether etc Holding or issuing cryptoassets – e.g. tokens/coins Holding cryptocurrency and cryptoassets as a broker-trader Crypto mining Tax on digital assets Blockchain accounting for IFRS Holdings of cryptocurrencies allow individuals and businesses to transact directly with each other without an intermediary such as … Read more
Topics hide Critical estimates judgements and errors (a) Significant estimates and judgements 11(b) Correction of material error in calculating depreciation 11(c) Revision of useful lives of plant and equipment Critical estimates, judgements and errors – Guidance Sources of estimation uncertainty Significant judgements Change of accounting estimate in final interim period Brexit Critical estimates judgements and … Read more
Topics hide Employee benefits accounting policies Employee benefits Guidance 25(y) Employee benefits (i) Short-term obligations (ii) Other long-term employee benefit obligations (iii) Post-employment obligations (iv) Share-based payments (v) Profit-sharing and bonus plans (vi) Termination benefits (vii) Reclassification of employee benefit obligations Employee benefits accounting policies This is a separated part of the example accounting policies, … Read more
Topics hide Disclosure equity Disclosure equity guidance Share premium Treasury shares Other potential disclosures Disclosure equity example 9 Equity 9(a) Share capital and share premium 9(b) Other equity 9(c) Other reserves 9(d) Retained earnings Disclosure equity Get the requirements for properly disclosing equity as the owners’ balance of assets less liabilities to provide the users … Read more
Owners are holders of instruments classified as equity. (IAS 1 7) OR In IFRS 3 owners is used broadly to include holders of equity interests of investor‑owned entities and owners or members of, or participants in, mutual entities. (IFRS 3 Appendix A) IFRS terms or definitions come from the Official Journal … Read more