Annual Reporting Posts

Last update 07/02/2020 Basic earnings per share 9 An entity shall calculate basic earnings per share amounts for profit or loss attributable to ordinary equity holders of the parent entity and, if presented, profit or loss from continuing operations attributable to those equity holders. 10 Basic earnings per share shall be calculated by dividing profit … Read more

Last update 07/02/2020 Example 2 Weighted average number of ordinary shares Reference: IAS 33, paragraphs 19-21 Shares issued Treasury(a) shares Shares outstanding 1 January 20X1 Balance at beginning of year 2,000 300 1,700 31 May 20X1 Issue of new shares for cash 800 0 2,500 1 December 20X1 Purchase of treasury shares for cash 0 … Read more

Last update 12/02/2020 18 An entity shall determine the lease term as the non-cancellable period of a lease, 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 … Read more

Last update 28/01/2020 Determining whether an entity is an investment entity IFRS 10 Is an entity an investment entity B85A An entity shall consider all facts and circumstances when assessing whether it is an investment entity, including its purpose and design. An entity that possesses the three elements of the definition of an investment entity … Read more

Objective IFRS 5 Objective and Scope 1 The objective of this IFRS is to specify the accounting for assets held for sale, and the presentation and disclosure of discontinued operations. In particular, the IFRS requires: assets that meet the criteria to be classified as held for sale to be measured at the lower of carrying … Read more

Last update 03/02/2020 B39 Customer options to acquire additional goods or services for free or at a discount come in many forms, including sales incentives, customer award credits (or points), contract renewal options or other discounts on future goods or services. B40 If, in a contract, an entity grants a customer the option to acquire … Read more

Objective 1 The objective of this Standard is to establish the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. Meeting the objective 2 To meet the objective in paragraph … Read more

Last update 28/01/2020 IFRS 5 Classification as held for sale Classification of non-current assets (or disposal groups) as held for sale or as held for distribution to owners 6 An entity shall classify a non-current asset (or disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction … Read more

Last update 06/03/2020 Identifying the contract 9 An entity shall account for a contract with a customer that is within the scope of this Standard only when all of the following criteria are met: the parties to the contract have approved the contract (in writing, orally or in accordance with other customary business practices) and … Read more

Last update 03/02/2020 110 The objective of the disclosure requirements is for an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. To achieve that objective, an entity shall disclose qualitative and quantitative information about all … Read more