IFRS Topics

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/01/2020 Revenue recognition over time enforceable payment right – 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 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/01/2020 Revenue recognition over time alternative use – 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 … Read more

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Rebuttable presumption significant increase in credit risk – IFRS 9 contains a rebuttable presumption that credit risk has increased significantly when contractual payments are more than 30 days past due. This means that when payments are 30 days past due, the financial asset is considered to have … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Property plant and equipment Example – Accounting policy example Property plant and equipment is stated at cost, less accumulated depreciation and accumulated impairment losses. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into the … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 Property plant and equipment (formerly know as tangible fixed assets, in short PPE) are tangible items that: are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 New Lease Standard Comparing IFRS and US GAAP – The FASB and IASB issued their respective standards in the first quarter of 2016. The issuance of the standards are the culmination of multiple years of deliberating a leasing model with the primary objective of bringing almost all … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 13/04/2020 Leveraged buyout IFRS 3 best reporting – In corporate finance, a leveraged buyout (LBO) is a transaction where a company is acquired using debt as the main source of consideration. These transactions typically occur when a private equity (PE) firm borrows as much as they can from … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Know it all purchase of 1 property investment – When should a purchase of investment property (or properties) be accounted for as a business combination, and when as a simple asset purchase? This is an important issue because the IFRS accounting requirements for a business combination are … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Topics hide Intangible assets Example – Example accounting policy Intangible assets Example Related posts: Intangible assets Example – Example accounting policy Intangible assets, other than goodwill, include expenditure on the exploration for and evaluation of oil and natural gas resources, computer software, patents, licences and trademarks and … Read more