IFRS Topics

Last update 29/11/2019 Securitisation revolving structure – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating with the initial and … Read more

Last update 29/11/2019 Securitisation all in interest rate swap retained – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating … Read more

Last update 05/12/2019 Satisfaction of performance obligations – An entity recognises revenue only when it satisfies a performance obligation by transferring control of a promised good or service to the customer. Control of an asset refers to the ability of the customer to direct the use of and obtain substantially all of the cash inflows, … Read more

Last update 26/11/2019 Satisfaction of construction performance obligations considers key implications IFRS 15 Revenue from Contracts with Customers for real estate entities. It provides an overview of the revenue recognition model in IFRS 15 with a focus on entities that: Own, operate and sell real estate Provide property management services Construct and sell residential property … Read more

Last update 15/09/2019 IFRS 15 Revenue from Contracts with Customers (contents page is here) introduced a single and comprehensive framework which sets out how much revenue is to be recognised, and when. The core principle is that a vendor should recognise revenue to depict the transfer of promised goods or services to customers in an … Read more

Last update 12/11/2019 Topics hide Sales warranties – the Case: Example on recognising and measuring provisions Considerations Sales warranties Illustration of calculations Warranty expense Related posts: Sales warranties – the Case: Example on recognising and measuring provisions A manufacturer gives warranties at the time of sale to purchasers of its product. Under the terms of … Read more

Last update 29/11/2019 Sale of specifically identified cash flows – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating with … Read more

Last update 29/11/2019 Sale of loans guarantee retained – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating with the … Read more

Last update 25/11/2019 Sale of hardware and installation services provides practical insight in revenue recognition of mixed contracts with customers under IFRS 15. Two very similar sales transactions/contracts but one with only one single performance obligation and the other with separate performance obligations. Case 1 – separate performance obligations Sale of hardware and installation services … Read more

Last update 29/11/2019 Sale of equities subject to call option – This is an illustration of how derecognition is applied in practice. The objective is to present the mechanics of applying the IFRS 9 requirements for derecognition of financial assets, starting with an analysis of the transaction using the flowchart [IFRS 9 B3.2.1], and culminating … Read more