Annual Reporting Posts

Last update 12/02/2020 Topics hide Classification of financial assets Contractual cash flows that are solely payments of principal and interest on the principal amount outstanding Consideration for the time value of money Contractual terms that change the timing or amount of contractual cash flows Contractually linked instruments Classification of financial assets Contractual cash flows that … Read more

Last update 12/02/2020 Topics hide 4.1 Classification of financial assets 4.2 Classification of financial liabilities Option to designate a financial liability at fair value through profit or loss 4.3 Embedded derivatives Hybrid contracts with financial asset hosts Other hybrid contracts 4.4 Reclassification 4.1 Classification of financial assets 4.1.1 Unless paragraph 4.1.5 applies, an entity shall … Read more

Last update 12/02/2020 Topics hide Initial recognition Regular way purchase or sale of financial assets Derecognition of financial assets Derecognition of financial liabilities Initial recognition B3.1.1 As a consequence of the principle in paragraph 3.1.1, an entity recognises all of its contractual rights and obligations under derivatives in its statement of financial position as assets … Read more

Last update 20/02/2020 72 To increase consistency and comparability in fair value measurements and related disclosures, this IFRS establishes a fair value hierarchy that categorises into three levels (see paragraphs 76–90) the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active … Read more

Last update 07/02/2020 Disclosures All entities 13 Relationships between a parent and its subsidiaries shall be disclosed irrespective of whether there have been transactions between them. An entity shall disclose the name of its parent and, if different, the ultimate controlling party. If neither the entity’s parent nor the ultimate controlling party produces consolidated financial … Read more

Objective 1 The objective of this Standard is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances, including commitments, with such parties. Scope … Read more

Objective 1 [Deleted] 2 The objective of this Standard is to establish principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and financial liabilities. It applies to the classification of financial instruments, from the perspective of the issuer, into financial assets, financial liabilities and equity instruments; the classification of related … Read more

Objective 1 The objective of this IFRS is to establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities. Meeting the objective 2 To meet the objective in paragraph 1, this IFRS requires an entity (the parent) that controls one or more other entities (subsidiaries) … Read more

Last update 03/02/2020 Part of the main section Measurement – Determining the transaction price – Variable consideration Examples 20–21 illustrate the requirements in paragraphs 50–54 of IFRS 15 on identifying variable consideration. Example 21—Estimating variable consideration IE105 An entity enters into a contract with a customer to build a customised asset. The promise to transfer … Read more