Annual Reporting Posts

A change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease (for example, adding or terminating the right to use one or more underlying assets, or extending or shortening the contractual lease term).         IFRS terms … Read more

Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees or for the termination of employment.         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 … Read more

Payments made by a lessee to a lessor relating to the right to use an underlying asset during the lease term, comprising the following: (a) fixed payments (including in-substance fixed payments), less any lease incentives; (b) variable lease payments that depend on an index or a rate; (c) the exercise price of a purchase option … Read more

The difference between all contractual cash flows that are due to an entity in accordance with the contract and all the cash flows that the entity expects to receive (ie all cash shortfalls), discounted at the original effective interest rate (or credit-adjusted effective interest rate for purchased or originated credit-impaired financial assets). An entity shall … Read more

Depreciation (Amortisation) is the systematic allocation of the depreciable amount of an asset over its useful life¹. 1 In the case of an intangible asset, the term ‘amortisation’ is generally used instead of ‘depreciation’. The two terms have the same meaning. OR Depreciation is the systematic allocation of the depreciable amount of an asset over … Read more

Compensation includes all employee benefits (as defined in IAS 19 Employee Benefits) including employee benefits to which IFRS 2 Share-based Payment applies. Employee benefits are all forms of consideration paid, payable or provided by the entity, or on behalf of the entity, in exchange for services rendered to the entity. It also includes such consideration … Read more

The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.         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 … Read more

Accounting profit is profit or loss for a period before deducting tax expense.         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 for all or … Read more

Transaction price (for a contract with a customer) – The amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties.         IFRS terms or definitions come from the Official Journal of the … Read more

An option contract that gives the holder the right (but not the obligation) to purchase a specified amount of the underlying asset at the given strike price, on or before the expiration date of the contract.         IFRS terms or definitions come from the Official Journal of the European Union (© European … Read more