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Last update 30/11/2019 IFRS 13 Fair value non-performance risks – One of the key challenges for many reporting entities in estimating fair value in accordance with the fair value standards has been determining and incorporating the impact of non-performance risk, including credit risk, into the fair value measurement. Non-performance risk is the risk that an … Read more

Last update 14/11/2019 IFRS 13 Fair value measurement Content provides the explanations on all aspects of IFRS 13 in this website. IFRS 13 provides a common framework for measuring fair value when required or permitted by another IFRS. IFRS 13 defines fair value as ‘The price that would be received to sell an asset or … Read more

Last update 30/11/2019 IFRS 13 Asset accumulation method – The asset accumulation method and the adjusted net asset method are both generally accepted business valuation methods of the asset-based business valuation approach. The asset accumulation method is well suited for business and security valuations performed for transaction, taxation, and controversy purposes. All business valuation approaches … Read more

Last update 30/11/2019 IFRS 13 Adjusted net asset method and the asset accumulation method are both generally accepted business valuation methods of the asset-based business valuation approach. First, the valuation expert typically starts with the subject company’s GAAP-based balance sheet. The valuation expert will use the balance sheet dated closest to the analysis valuation date. … Read more

Last update 30/10/2019 IFRS 12 Disclosure of Interests in Other Entities is a consolidated disclosure standard requiring a wide range of disclosures about an entity’s interests in subsidiaries, joint arrangements, associates and unconsolidated ‘structured entities’. Disclosures are presented as a series of objectives, with detailed guidance on satisfying those objectives. An investment entity that prepares financial statements … Read more

Last update 18/11/2019 IFRS 10 Structured vs non-structured entities is a distinction in use under IFRS 10 Consolidated Financial Statements. Consolidation under IFRS 10 is based on what can be referred to as a ‘power-to-direct’ model. Although there is no distinction between different types of entities in determining whether one entity controls another, there is … Read more

Last update 28/10/2019 IFRS 10 Silos and deemed separate entities generally require the control assessment to be made at the level of each investee entity. However, in some circumstances the assessment is made for a portion of an entity (a deemed separate entity). This is the case if, and only if, all the assets, liabilities … Read more

Last update 28/10/2019 This is what this is about: IFRS 10 Cases of no consolidation requirements. This requires all parent entities to present consolidated financial statements, other than: parent entities that are investment entities (see exception in link). These are an exception to consolidation if they are required (in accordance with IFRS 10 31) to … Read more

Last update 12/12/2019 IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies IFRIC 21 Levies References IAS 1 Presentation of Financial Statements IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IAS 12 Income Taxes IAS … Read more

Last update 01/11/2019 This is what this is about – IFRIC 12 Service concessions accounting. There is no definition in IFRIC 12 but a characteristic included is as follows: a service concession: “typically involves a private sector entity (an operator) constructing the infrastructure used to provide the public service or upgrading it (for example, by … Read more