IFRS Topics

Last update 28/10/2019 IFRS 15 Create or enhance an asset is the second phase for IFRS 15 Revenue recognition. This is part of a primary and fundamental subject in the recognition of revenue. There are two ways of recognising revenue, revenue recognition over time and revenue recognition at a point in time. Revenue recognition over … Read more

Last update 10/11/2019 IFRS 15 Contracts with customers defines a contract as an agreement between two or more parties that creates enforceable rights and obligations. Based on IFRS 15.9, an entity should account for a contract with a customer that is within its scope only when all of the following criteria are met: The parties … Read more

Last update 10/12/2019 IFRS 15 11 IFRS 15 Contract terms with customers – The standard is applied to the duration of the contract (i.e. the contractual period) in which the parties to the contract have presently enforceable rights and obligations. IFRS 15 12 A contract does not exist if each party to the contract has … Read more

Last update 20/12/2019 IFRS 15 Contract modifications Decision tree guides you through the treatment of changes in contracts under IFRS 15 Revenue from contracts with customers. Parties to an arrangement frequently agree to modify the scope or price (or both) of their contract. If that happens, an entity must determine whether the modification is accounted … Read more

Last update 13/12/2019 IFRS 13 Relief from royalty method – The ‘Royalty Relief’ (also known as Relief from Royalty) method is based on the notion that a brand holding company owns the brand and licenses it to an operating company.  One method to determine the market value of Intellectual Property assets like patents, trademarks, and … Read more

Last update 30/11/2019 IFRS 13 Measure non-financial assets liabilities highlights key considerations in applying the fair value standards to develop the fair value measurements of non-financial assets and non-financial liabilities. It also addresses the considerations applicable to determining the fair value measurements often used to record business combinations and in impairment assessments. When determining the … Read more

Last update 30/11/2019 IFRS 13 Fair value non-performance risks – One of the key challenges for many reporting entities in estimating fair value in accordance with the fair value standards has been determining and incorporating the impact of non-performance risk, including credit risk, into the fair value measurement. Non-performance risk is the risk that an … Read more

Last update 14/11/2019 IFRS 13 Fair value measurement Content provides the explanations on all aspects of IFRS 13 in this website. IFRS 13 provides a common framework for measuring fair value when required or permitted by another IFRS. IFRS 13 defines fair value as ‘The price that would be received to sell an asset or … Read more

Last update 30/11/2019 IFRS 13 Asset accumulation method – The asset accumulation method and the adjusted net asset method are both generally accepted business valuation methods of the asset-based business valuation approach. The asset accumulation method is well suited for business and security valuations performed for transaction, taxation, and controversy purposes. All business valuation approaches … Read more

Last update 30/11/2019 IFRS 13 Adjusted net asset method and the asset accumulation method are both generally accepted business valuation methods of the asset-based business valuation approach. First, the valuation expert typically starts with the subject company’s GAAP-based balance sheet. The valuation expert will use the balance sheet dated closest to the analysis valuation date. … Read more