WP.CUONG.CC

Last update 20/11/2019 The transfer of an economic resource embodies economic benefits that will be required to settle the obligation, resulting in an outflow (in general of cash) from the reporting entity to a third party. A definition of resource: An economic or productive factor required to accomplish an activity, or as means to undertake … Read more

Last update 05/12/2019 Transaction price allocation – Once the performance obligations have been identified and the transaction price has been determined, the entity is required to allocate the transaction price to the performance obligations, generally in proportion to their stand-alone selling prices (i.e., on a relative stand-alone selling price basis), with two exceptions. Firstly, IFRS … Read more

Last update 22/12/2019 Trading in securities and loans – IAS 7 14 includes a number of examples of operating cash flows, including cash receipts and payments from contracts held for dealing or trading purposes. IAS 7 15 notes that when an entity holds securities and loans for dealing or trading purposes, those items are similar … Read more

Last update 04/12/2019 Trademarks Trade names Service marks Collective marks and Certification marks – In a Business Combination, these are intangible assets and are therefore recognised separately from goodwill, provided that their fair values can be measured reliably. These marketing-related intangible assets meet the definition of an intangible asset because they arise from contractual or … Read more

Last update 19/12/2019 Timing of Initial Recognition of Insurance contracts – Groups of insurance contracts are initially recognised from the earliest of [IFRS 17 25]: when the coverage period starts; when the first payment from the policyholder is due, or actually received if there is no due date; and based on the facts and circumstances, … Read more

Last update 28/11/2019 Time value of options is about one of the other changes from IAS 39 to IFRS 9 in respect of hedge accounting Time value of options is one leg of the fair value of an option, the other leg is the intrinsic value. When using an option for hedging activities, only the … Read more

Last update 27/11/2019 Third-party pricing service in fair value measurement reflects on the use of a pricing service for inputs in a fair value measurement does not change the analysis of the categorization of the inputs in the fair value hierarchy. Prices obtained from a pricing service are not considered observable simply because they were … Read more

Last update 26/10/2019 This is the way to IFRS 9 Financial Instruments, introducing the why? for this new IFRS standard. In July 2014 the International Accounting Standards Board (IASB) published the 4th and final version of IFRS 9 Financial Instruments. Topics hide The way to IFRS 9 Financial Instruments From the IAS 39 to IFRS … Read more

Last update 27/11/2019 The sub-LIBOR issue  (see further below) related to contractually specified risk components: Purchase or sales agreements sometimes contain clauses that link the contract price via a specified formula to a benchmark price of a commodity. Examples of contractually specified risk components are each of the price links and indexations in the contracts … Read more

Last update 12/11/2019 A Historical Perspective on the Statement of Cash Flows In 1987, the Financial Accounting Standards Board (FASB) issued an accounting standard, FASB Statement no. 95, requiring that the statement of cash flows be presented as one of the three primary financial statements. Previously, companies had been required to present a statement of … Read more