Annual Reporting Posts

Blog posts from Annual Reporting Posts

5 steps in IFRS 15 – best quick read

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Topics hide 5 steps in IFRS 15 The 5 steps in IFRS 15 Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when or … Read more

Bill-and-hold arrangements in IFRS 15

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Bill-and-hold arrangements Bill-and-hold arrangements occur when an entity bills a customer for a product that it transfers at a point in time, but retains physical possession of the product until it is transferred to the customer at a future point in time. This might occur to accommodate a customer’s lack of available space for the … Read more

IFRS 15 Bill-and-hold arrangements

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Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements B79 A bill-and-hold arrangement is a contract under which an entity bills a customer for a product but the entity retains physical possession of the product until it is transferred to … Read more

Repurchase agreements in IFRS 15

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Topics hide Repurchase agreements in IFRS 15 A forward or a call option An approach that focuses on the repurchase price Requirements for repurchase agreements not applicable to arrangements with a guaranteed resale amount Conditional forwards or call options Right of first refusal Repurchase agreements in IFRS 15 INTRO Repurchase agreements in IFRS 15 – … Read more

IFRS 15 Repurchase agreements

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Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Repurchase agreements A forward or a call option A put option IFRS 15 Revenue from contracts with customers IFRS 15 Repurchase agreements B64 A repurchase agreement is a contract in which an entity sells an asset and also promises or has the option (either … Read more

IFRS 15 Sale of Non financial assets

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Topics hide IFRS 15 Sale of Non financial assets Sale or transfer of a subsidiary or associate IFRS 15 Sale of Non financial assets INTRO IFRS 15 Sale of Non financial assets – Certain aspects of IFRS 15 apply to the sale or transfer of non financial assets (such as intangible assets and property, plant, … Read more

Contract

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An agreement between two or more parties that creates enforceable rights and obligations.         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

Asset management or investment management

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Topics hide Asset management or investment management Timing of revenue and profit recognition Step 1 – Determine the customer’s identity Step 1 – Apply the contract combination guidance Step 2/5 – Unbundling multiple service obligations within a single contract Step 3 – Treatment of upfront fees Step 3 – Variable consideration: the recognition of Management … Read more

Disclosure capital management

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Topics hide Disclosure capital management Disclosure capital management guidance Capital risk management Dividends Other potential disclosures Example disclosure capital management 13(a) Risk management Guidance 1 Disclosure capital management Get the requirements for properly disclosing capital management procedures applied by your company to provide the users of your financial statements with useful financial data, in the … Read more