WP.CUONG.CC

Last update 11/11/2019 The provision matrix in the simplified approach is used for financial assets of little complexity and in a non-complicate operation environment, where it is common sense to use. Topics hide Forward looking Provision matrix in the simplified approach Determining appropriate groupings Adjusting historical loss rates for forward looking information Notes Stepped approach … Read more

Last update 06/12/2019 Prospective financial information – There has been increasing demand in recent years for more disclosure of prospective financial information (PFI). Although PFI disclosures are invariably regarded as being relevant to investors, there are also good reasons why they are not made on a regular and comprehensive basis by all companies. Doubts often … Read more

Last update 20/11/2019 Topics hide Property development intercompany finances Interest bearing term loan Senior interest-bearing bank term debt THE CASE NEW SUBSIDIARY/PROPERTY DEVELOPMENT A. Classification B. Impairment (i) Staging Assessment (ii) Estimating the risk of a default occurring (iii) ECL Measurement Related posts: Property development intercompany finances Interest bearing term loan Senior interest-bearing bank term … Read more

Last update 12/12/2019 Property accounting using the Cost model – Property, plant and equipment (PPE) is often composed of various parts with varying useful lives or consumption patterns. These parts are (individually) replaced during the useful life of an asset. Therefore: Property accounting using the Cost model Each part of an item of PPE with … Read more

Last update 20/12/2019 What are promises in a contract, from an accounting/financial reporting point of view and from a legal point of view. 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 … Read more

Last update 24/12/2019 Product delivered without a written contract – Seller’s practice is to obtain written and customer-signed sales agreements. Seller delivers a product to a customer without a signed agreement based on a request by the customer to fill an urgent need. Can an enforceable contract exist if Seller has not obtained a signed … Read more

Last update 22/12/2019 Private sector participation in public infrastructure – There are a wide variety of arrangements in operation globally whereby government or government agencies enter into contractual service arrangements to attract private sector participation in the development, financing, operation and maintenance of infrastructure for public services. IFRIC 12 is concerned with the accounting by … Read more

Last update 06/03/2019 Version 1.0 Last updated on March 5, 2019 1. OVERVIEW Annualreporting.info understands how important the protection of your personal information is to you. This Privacy Policy governs the privacy practices used by www.faqifrs.com on its “Website” (https://www.faqifrs.com); offline data collection, use, and disclosure activities; as well as the choices that you have … Read more

Last update 14/11/2019 Principal versus agent considerations exist when more than one party is involved in providing goods or services to a customer, the standard requires an entity to determine whether it is a principal or an agent in these transactions by evaluating the nature of its promise to the customer. Principal versus agent considerations … Read more

Last update 12/12/2019 Presentation uncertainty in transfer pricing Example 1 — The expected value method is used to reflect the effect of uncertainty for tax treatments considered together These examples accompany, but are not part of, IFRIC 23. These examples portray hypothetical situations illustrating how an entity might apply some of the requirements in IFRIC … Read more