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Last update 18/11/2019 In Valuation of Intangibles on Acquisition a lot of practical examples are shown to be used as a tool of reference when challenging a valuation in real life. Topics hide THE CASE: Shockwave Corporation THE CASE – Historical Operating Results THE CASE – Acquisition Forecast THE CASE – Background Information THE CASE … Read more

Last update 26/11/2019 Valuation of a machine to be held and used in the Business shows the valuation premises for a machine live in production. An entity acquires a machine in a business combination. The machine will be held and used in its operations. It was originally purchased by the acquired entity from an outside … Read more

Last update 03/12/2019 Unspecified additional software products – As part of a contract with a customer, a software entity may license software today and promise to deliver unspecified additional software products in the future. For example, the software entity may agree to deliver all new products to be introduced in a family of products over … Read more

Last update 23/12/2019 Uniform accounting policies for consolidation – For IFRS, the parent company and its subsidiaries must have and apply uniform (i.e. the same) accounting policies. If not, appropriate adjustments are made when preparing the consolidated financial statements to ensure conformity. The extent and complexity of this exercise depend on the nature of the … Read more

Last update 24/11/2019 Under control IFRS 10 Main requirements provides the explanations on all aspects of IFRS 10 Consolidated Financial Statements in this website. And the related IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interest in Other Entities, IAS 28 Investments in Associates and Joint ventures and IAS 27 Separate Financial Statements. Topics hide … Read more

Last update 04/12/2019 Uncertainty in income tax measurement – In assessing whether uncertainty over income tax treatments exists, an entity may consider a number of indicators including, but not limited to, the following: Ambiguity in the drafting of relevant tax laws and related guidelines (such as ordinances, circulars and letters) and their interpretations Income tax … Read more

Last update 08/11/2019 Ultimate guide to IFRS 3 Business combinations outlines the accounting when an acquirer obtains control of a business (e.g. an acquisition or merger). Such business combinations are accounted for using the ‘acquisition method’, which generally requires assets acquired and liabilities assumed to be measured at their fair values at the acquisition date. … Read more

Last update 18/11/2019 Types of accounting errors come in the form of different kinds of errors. Some errors are discovered in the period in which they are made and are easily adjusted. Others may not be discovered currently and are incorrectly reflected in the financial statements until discovered. Some errors are never discovered; however, the … Read more

Last update 19/12/2019 Treatment of lease liabilities- The recognition of right-of-use assets with corresponding lease liabilities raises the question of whether and how the lease liabilities associated with the right-of-use assets should be considered when performing impairment assessments. The treatment of lease liabilities may differ in practice depending on whether the recoverable amount is based … Read more

Last update 22/12/2019 Transition to new IFRS 15 Disclosures – Disclosures for IFRS 15 Revenue from contracts with customers in respect of transition options: Requirements: Transition to new IFRS 15 Disclosures IFRS paragraph Narrative IAS 1:117(b) Disclose accounting policies that are relevant to understanding the financial statements (i.e. those for material items). IFRS 15:119 Disclose … Read more