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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 3 Escrow agreement on acquisition – How should the buyer account for funds placed in escrow? Amounts paid to a third party or the seller’s escrow account may be contingent consideration if the release of the funds is contingent on whether specified future events occur or … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 3 Continuing employment – Contingent arrangements payable to former shareholders that continue in employment may be linked to the different future performance metrics of the acquired business. What indicators help differentiate consideration from remuneration of post-combination services? IFRS 3 Continuing employment Contingent arrangements payable to selling … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 3 Business combinations achieved in stages – Additional guidance for applying the acquisition method to particular types of business combinations Business combinations achieved in stages. A ‘business combination achieved in stages’ (step acquisition) is a business combination in which the acquirer obtains control of an acquiree … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Financial guarantee contract – IFRS 17 Definition: A contract that requires the issuer to make specified payments, to reimburse the holder for a loss it incurs because a specified debtor fails to make a payment when due in accordance with the original or modified terms of a … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 [IFRS 17 Insurance contracts – Fair value approach] An entity can elect to use the fair value approach if the full retrospective approach is impracticable, and it should use the fair value approach if the modified retrospective approach is impracticable. Applying the fair value approach: The contractual … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 IFRS 16 Leases introduced the term ‘Assets of low value’. IFRS 16 does not provide much guidance to assess what ‘low value’ means. There is no definition. The value referred to as ‘low value’ is the value of the asset when it was new, regardless of the … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Topics hide IFRS 15 Volume discounts and Margin guarantees – Volume discounts IFRS 15 Volume discounts and Margin guarantees – Profit margin guarantees IFRS 15 Volume discounts and Margin guarantees Related posts: IFRS 15 Volume discounts and Margin guarantees – Volume discounts To entice customers to buy/order … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 15 Software industry obligations – This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? Topics hide Scenario A IFRS 15 Software industry obligations Scenario B Scenario C Scenario D 1 Scenario D 2 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS 15 Property development obligations – 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 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 06/03/2020 INTERNATIONAL FINANCIAL REPORTING STANDARD 15 REVENUE FROM CONTRACTS WITH CUSTOMERS # 1 Topics hide OBJECTIVE Meeting the objective SCOPE RECOGNITION Identifying the contract Combination of contracts Contract modifications Identifying performance obligations Promises in contracts with customers Distinct goods or services Satisfaction of performance obligations Performance obligations satisfied … Read more