High level overview IFRS 3 Business Combinations

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 21/04/2020 HIGH LEVEL OVERVIEW IFRS 3 BUSINESS COMBINATIONS Topics hide Scope Definition Definition of a “Business” The Acquisition Method Step 1 – Identify the acquirer Step 2 – Determine the acquisition date Step 3 – Recognise and measure the identifiable assets acquired, the liabilities assumed and any non-controlling … Read more

Held-to-maturity financial assets Example

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 Held-to-maturity financial assets Example – Held-to-maturity financial assets have passed the SPPI test (solely payment of principal and interest) and the business model test (Held to collect). Held-to-maturity financial assets are measured at amortized cost, using the effective interest method, less any impairment. Only debt investments can be classified … Read more

Financial assets example

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Financial assets example – Accounting policy example Financial assets are recognized initially at fair value, normally being the transaction price plus, in the case of financial assets not at fair value through profit or loss, directly attributable transaction costs. The subsequent measurement of financial assets depends on their … Read more

Fair value Standards

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 10/03/2020 Related posts: The Standards IFRS Standards and IFRIC Interpretations

Environmental provision under IAS 37

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 Environmental provision under IAS 37 – Although there is no formal distinction between environmental and decommissioning provisions under IFRS, in general environmental provisions exclude provisions related to damage incurred in installing an asset (see decommissioning provisions). In a dynamic economic and regulatory climate, bringing your future into … Read more

Diagnosed for importance decommissioning liability IFRS

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Diagnosed for importance decommissioning liability IFRS – IAS 36 – Impact of a decommissioning liability in determining the recoverable amount of a Cash generating unit. Topics hide At a glance Impact How does it work in practice in value in use? How does it work in practice … Read more

Definition of equity

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Definition of equity: The residual interest in the assets of the entity after deducting all its liabilities. Equity claim: A claim on the residual interest in the assets of the entity after deducting all its liabilities. Equity interests: For the purposes of IFRS 3, is used broadly … Read more

Contract Modifications under IFRS 15

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 19/03/2020 Contract Modifications under IFRS 15 – Just two practical examples, to better understand all kind of things for IFRS 15. On 1 January 20X1, Wireless Company enters into a two-year contract with a customer for a 2-gigabyte (GB) data plan with unlimited talk and text for CU60/month … Read more

Compound financial instruments

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 06/03/2020 Topics hide Compound financial instruments – An incredible shift in accounting concepts 1 Financial instruments with payments based on profits of the issuer 2 Convertible bonds 3 Split accounting for a compound financial instrument 4 Compound instruments containing embedded non-equity derivatives 5 Hybrid instruments 6 Conversion of … Read more