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A provision is a liability of uncertain timing or amount. 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 some publicly listed … Read more
Topics hide Insurance contracts definitions Insurance contracts definitions Insurance contracts definitions Insurance contracts definitions – Here are all of the IFRS 17 Insurance contracts definitions from Appendix A. IFRS 17 Defined terms form C to I Term Definition CSM A component of the carrying amount of the asset or liability for a group of insurance … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS vs US GAAP Investment property Introduction Overview Definition and classification IFRS vs US GAAP Initial measurement Investment property IFRS vs US GAAP Subsequent measurement investment property IFRS vs US GAAP Fair value model Investment property IFRS vs US GAAP Cost model Investment property Subsequent expenditure Transfers to … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); The measurement period in business combinations explains the one year window allowed in properly accounting for business combinations or as they have been called in the past acquisitions/M&A etc. The accounting for a business combination requires substantial effort and resources. The initial accounting often is incomplete at the end of … Read more
Use back button from the brower (adsbygoogle = window.adsbygoogle || []).push({}); The measurement period is a sort of extension to the acquisition method (IFRS 3). When initial accounting for an acquisition is incomplete (or if afterwards appears to have been incomplete) at the end of the reporting period in which the business combination occurs it … Read more
Use back button from the brower (adsbygoogle = window.adsbygoogle || []).push({}); Treasury shares represent shares issued by an entity and at a later stage purchased back by the same issuing entity for immediate cancellation or held for resale. These are debited directly to equity and in general shown as a separate class in equity. This … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS 10 Silos and deemed separate entities Example Bank – SPV – 2 Corporate clients Example Two investors – Shared plot of land IFRS 1o Control model – Identify the investee Variable Interest Entity (VIE) IFRS 10 Silos and deemed separate entities IFRS 10 Silos and deemed separate … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IAS 32 Equity and Financial Liabilities Classification as a financial liability or equity General principles Puttable instruments Obligations arising on liquidation Impact of share settlement Redemption options Classification of rights issues Compound instruments Accounting for conversion at maturity Recognition and measurement Treasury shares Dividends Distributions of non-cash assets … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRIC 17 Distributions of Non-cash Assets to Owners Related IFRS posts IFRIC 17 Distributions of Non-cash Assets to Owners References IFRS 3 Business Combinations (as revised in 2008) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments: Disclosures IFRS 10 Consolidated Financial Statements … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Common control transactions v Newco formation Overview Common control transactions Book value (carry-over basis) accounting Acquisition accounting Consolidated financial statements of the transferor Discussion paper IASB (2021) Current accounting Should pre-combination information be restated? Set the framework – Historical Interpretations Committee ‘Transistory’ common control (IFRS 3.2(c)) Associates and … Read more