Annual Reporting Posts

Blog posts from Annual Reporting Posts

IFRS 9 Appendix B Impairment Low credit risk

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Topics hide IFRS 9 Financial instruments IFRS 9 Appendix B Impairment Low credit risk Financial instruments that have low credit risk at the reporting date IFRS 9 Financial instruments IFRS 9 Appendix B Impairment Low credit risk Financial instruments that have low credit risk at the reporting date B5.5.22 The credit risk on a financial … Read more

Undue cost or effort

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Use back button from the brower The term ‘undue cost or effort’ is not defined in IFRS 9, although it is clear from the guidance that information available for financial reporting purposes is considered to be available without undue cost or effort. Entities are not required to undertake an exhaustive search for information, it does … Read more

30 days past due rebuttable presumption – simple and sufficient

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Past due status and more than 30 days past due rebuttable presumption – making loss provision calculations simple – The second simplification available in IFRS 9 sets out a rebuttable presumption that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due. … Read more

IFRS 9 Measurement

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Topics hide IFRS 9 Financial instruments IFRS 9 Measurement 5.1 Initial measurement 5.2. Subsequent measurement of financial assets 5.3 Subsequent measurement of financial liabilities 5.4 Amortised cost measurement Financial assets 5.5 Impairment Recognition of expected credit losses Determining significant increases in credit risk Modified financial assets Purchased or originated credit-impaired financial assets Simplified approach for … Read more

Classification and measurement model

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Use back button from the brower IFRS 9 prescribes a single classification and measurement model for financial assets, dependent on both: The entity’s business model objective for managing financial assets The contractual cash flow characteristics of financial assets. Financial instruments at amortised cost Debt instruments at fair value through other comprehensive income Financial instruments at … Read more

Basel Committee IFRS 9 Guidance

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Topics hide Basel Committee IFRS 9 Guidance Principles underlying the Banking IFRS 9 Guidance Application of the ECL requirements in the Banking IFRS 9 Guidance Key banking aspects of Banking IFRS 9 Guidance Proportionality, materiality and symmetry Reasonable and supportable information Consideration of forward looking information Grouping of exposures Credit risk grades at banks Assessment … Read more

1 Best Read All IFRS vs US GAAP Leases

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Topics hide IFRS vs US GAAP Leases Standards Reference Overview Scope comparisons Identification of a lease Lease and non-lease components Definition of Lease term Definition of lease payments Definition of discount rate Definition of Initial direct costs Accounting for leases – Lessor – Classification of a lease Accounting for leases – Lessor – IFRS vs … Read more

IFRS 16 Good Important Read – Lease payments

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Topics hide Lease payments – Lessee perspective Categories of lease payment Residual value guarantees Renewal, termination and purchase options Lease payments – Lessor perspective Payments that depend on an index or rate Initial measurement of the lease liability Reassessment of the lease liability Payments that depend on an index Payments that depend on a rate … Read more

IFRS 16 Lessee

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Topics hide IFRS 16 Leases IFRS 16 Lessee Recognition Measurement Initial measurement Initial measurement of the right-of-use asset Initial measurement of the lease liability Subsequent measurement Subsequent measurement of the right-of-use asset Subsequent measurement of the lease liability Reassessment of the lease liability Lease modifications Presentation Disclosure IFRS 16 Leases IFRS 16 Lessee Recognition 22 … Read more

IFRS vs US GAAP Employee benefits

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IFRS vs US GAAP Employee benefits The following discussion captures a number of the more significant GAAP differences under both the impairment standards. It is important to note that the discussion is not inclusive of all GAAP differences in this area. The significant differences and similarities between U.S. GAAP and IFRS related to accounting for … Read more