Annual Reporting Posts

Blog posts from Annual Reporting Posts

IFRS 16 Lessor accounting

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Topics hide IFRS 16 Lessor accounting 1. Lessor accounting model 2. Lease classification 3. Operating lease model 4. Finance lease model 5. Presentation and disclosure 5.1 Lessor presentation 5.2 Lessor disclosure IFRS 16 Lessor accounting Lessors continue to classify leases as finance or operating leases. 1. Lessor accounting model The lessor follows a dual accounting … Read more

Lessee accounting under IFRS 16

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Topics hide Lessee accounting under IFRS 16 1. Lessee accounting model 2. Initial measurement of the lease liability 2.1 Lease payments 2.3 Discount rate 3. Initial measurement of the right-of-use asset 4. Subsequent measurement of the lease liability 4.1 Measurement basis 4.2 Remeasurement of the lease liability 5 Subsequent measurement of the right-of-use asset 5.1 … Read more

IAS 36 Recognising and measuring an impairment loss

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Topics hide IAS 36 Impairment of assets IAS 36 Recognising and measuring an impairment loss IAS 36 Impairment of assets IAS 36 Recognising and measuring an impairment loss 58 Paragraphs 59–64 set out the requirements for recognising and measuring impairment losses for an individual asset other than goodwill. Recognising and measuring impairment losses for cash-generating … Read more

IFRS 16 Appendix B Lease term

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Topics hide IFRS 16 Leases IFRS 16 Appendix B Lease term IFRS 16 Leases IFRS 16 Appendix B Lease term Application Guidance to paragraphs 18 – 21 B34 In determining the lease term and assessing the length of the non-cancellable period of a lease, an entity shall apply the definition of a contract and determine … Read more

IFRS 16 Appendix B In-substance fixed lease payments

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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

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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

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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

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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

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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

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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