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Blog posts from Annual Reporting Posts
The non-cancellable period for which a lessee has the right to use an underlying asset, together with both: periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and periods covered by an option to terminate the lease if the lessee is reasonably certain not to … Read more
An integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income (such as dividends or interest) or generating other income from ordinary activities. IFRS terms or definitions are retrieved from IFRS Standards that come … Read more
Determining a leases discount rate IFRS 16.26 sets out the discount rate requirement as follows: “At the commencement date, a lessee shall measure the lease liability at the present value of the lease payments that are not paid at that date. The lease payments shall be discounted using the interest rate implicit in the lease, … Read more
IAS 36 Determine if and when to test for impairment – When looking at the step-by-step IAS 36 impairment approach it comes down to the following broadly organised steps: What?? – Determining the scope and structure of the impairment review (see the step-by-step IAS 36 impairment approach), If and when? – Determining if and when … Read more
When looking at the step-by-step IAS 36 impairment approach it comes down to the following broadly organised steps: What?? – Determining the scope and structure of the impairment review, If and when? – Determining if and when a quantitative impairment test is necessary, jump to this part here How? – Understanding the mechanics of the … Read more
When looking at the step-by-step IAS 36 impairment approach it comes down to the following broadly organised steps: What?? – Determining the scope and structure of the impairment review, explained here, If and when? – Determining if and when a quantitative impairment test is necessary, explained here, IAS 36 How? – Impairment test or understanding … Read more
IAS 24 Related parties by definition starts with two classes of related parties: person(s) IAS 24 Related parties by definition entity(ies) IAS 24 Related parties by definition in relation to the central entity in this standards the REPORTING ENTITY. IAS 24 Related parties by definition The reporting entity in IAS 24 is referred to (so … Read more
Last update 04/08/2020 What are Consolidated Financial Statements in IFRS 10 and the relations with IFRS 11 IFRS 12 IAS 27 IAS 28 and disclosures for consolidation and investments. Topics hide Look here IAS 27 Separate Financial Statements IFRS 10 Consolidated Financial Statements Investment entity IFRS 11 Joint Arrangements Determination of this classification: Consolidation replacement/alternative … Read more
Last update 20/07/2020 Overview IFRS 10 Consolidated Financial Statements – Short – To establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities Overview IFRS 10 Consolidated Financial Statements Longer – IFRS 10 replaces the part of IAS 27 Consolidated and Separate Financial Statements that … Read more
Last update 10/07/2020 IFRS 2 Fair value of equity instruments granted – Share-based payment transactions with employees are measured with reference to the fair value of the equity instruments granted (IFRS 2.11). The fair value of the equity instruments granted is determined as follows (IFRS 2.16-17): If market prices are available for the actual equity … Read more