WP.CUONG.CC

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS vs US GAAP N onfinancial assets – The guidance under US GAAP and IFRS as it relates to nonfinancial assets (e.g., intangibles; property, plant, and equipment, including leased assets; inventory; and investment property) contains some significant differences with potentially far-reaching implications. These differences primarily relate to … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 IFRS vs US GAAP Financial Statement presentation – There are many similarities in US GAAP and IFRS guidance on financial statement presentation. Under both sets of standards, the components of a complete set of financial statements include: a statement of financial position, a statement of profit and … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 IFRS vs US GAAP Financial liabilities and equity – Under current standards, both US GAAP and IFRS require the issuer of financial instruments to determine whether either equity or financial liability classification (or both) is required. Although the IFRS and US GAAP definitions of a financial liability … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 IFRS vs US GAAP Financial assets – Both the FASB and the IASB have finalized major projects in the area of financial instruments. With the publication of IFRS 9, Financial Instruments, in July 2014, the IASB completed its project to replace the classification and measurement, as well as … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 IFRS vs US GAAP Derivatives and hedging – Derivatives and hedging represent some of the more complex and nuanced topical areas within both US GAAP and IFRS. While IFRS generally is viewed as less rules-laden than US GAAP, the difference is less dramatic in relation to derivatives … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 IFRS vs US GAAP Business combinations – IFRS and US GAAP are largely converged in this area. The business combinations standards under US GAAP and IFRS are close in principles and language. However, some differences remain between US GAAP and IFRS pertaining to (1) the definition of … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 04/03/2020 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z # A Accounting policies Accounting profit Acquiree Acquirer Acquisition date Active market Actuarial gains and losses Actuarial present value of promised … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 IFRS 9 Proper accounting for Related Company Loans – IFRS 9 Financial Instruments makes no distinction between unrelated third party and related party transactions. Entities that prepare stand-alone financial statements are required to apply the full provisions of the standard to all transactions within its scope. This … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Topics hide IFRS 9 Presentation of contract assets and liabilities – General Presentation of a contract as a single contract asset or contract liability Offsetting contract assets and liabilities against other assets and liabilities Presentation of contract assets and contract liabilities as current or non-current Case of … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 9 Own use scope exemption A reduction in the amount of funding available from equity markets, together with difficulty in obtaining loan finance, have meant that a number of developers and producers in the extractives industry have looked to other ways of obtaining finance. An increasingly … Read more