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Blog posts from Annual Reporting Posts
Components of Financial Statements – The following comprise a complete set of financial statements: a statement of financial position, a statement of profit or loss and other comprehensive income, presented either: in a single statement that included all components of profit or loss and other comprehensive income, or in the form of two separate statements: … Read more
Topics hide IFRS 15 Revenue Disclosures Examples Disaggregation of revenue Accounting policies and significant judgements Other potential disclosures Example Disclosure IFRS 15 Revenue from contracts with customers 3 Revenue from contracts with customers 3(a) Disaggregation of revenue from contracts with customers 3(b) Assets and liabilities related to contracts with customers 3(c) Accounting policies and significant … Read more
Last Updated on 08/02/2020 by 75385885 Topics hide IAS 36 Impairment of assets IAS 36 Disclosure IAS 36 Impairment of assets IAS 36 Disclosure 126 An entity shall disclose the following for each class of assets: the amount of impairment losses recognised in profit or loss during the period and the line item(s) of the … Read more
Last Updated on 03/02/2020 by 75385885 Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Contract costs Incremental costs of obtaining a contract Costs to fulfil a contract Amortisation and impairment IFRS 15 Revenue from contracts with customers IFRS 15 Contract costs Incremental costs of obtaining a contract 91 An entity shall recognise … Read more
Last Updated on 06/03/2020 by 75385885 Topics hide IFRS 15 Revenue from Contracts with Customers IFRS 15 Identifying the contract Identifying the contract Combination of contracts Contract modifications Identifying performance obligations Promises in contracts with customers Distinct goods or services Satisfaction of performance obligations Performance obligations satisfied over time Performance obligations satisfied at a point … Read more
Use back button from the brower Last Updated on 28/02/2021 by 75385885 Acquisition is the process of an entity (acquirer) buying another entity (investee, target), the acquirer must record the event under the acquisition method (IFRS 3). This approach mandates a series of steps to record the acquisitions, which are: Measure any tangible assets and … Read more
Those rights that IFRS 15 Revenue from Contracts with Customers specifies are accounted for in accordance with this Standard for the purposes of recognising and measuring impairment gains or losses. IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the … Read more
Last Updated on 12/02/2020 by 75385885 Topics hide IFRS 8 Reportable segments IFRS 8 Entity-wide disclosures Information about products and services Information about geographical areas Information about major customers IFRS 8 Reportable segments IFRS 8 Entity-wide disclosures 31 Paragraphs 32–34 apply to all entities subject to this IFRS including those entities that have a single … Read more
Use back button from the brower Last Updated on 28/02/2021 by 75385885 A reportable segment is a operating segment that needs to be reported/disclosed. Information is to be disclosed separately about each identified operating segment and if not separately reported (if quantitative thresholds are met) aggregated into a remainder operating segment. Related Articles: IFRS 8 … Read more
Last Updated on 03/02/2020 by 75385885 Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Disclosure of disaggregated revenue IFRS 15 Revenue from contracts with customers IFRS 15 Disclosure of disaggregated revenue B87 Paragraph 114 requires an entity to disaggregate revenue from contracts with customers into categories that depict how the nature, amount, … Read more