Identify Software industry obligations – Customisation

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Last update 16/09/2019 This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? Identify Software industry obligations – Customisation Scenario B Identify Software industry obligations – Customisation >>>>> See scenario A here, and scenario C here Information from scenario A: A vendor enters into … Read more

Identify Property development obligations – Single contract

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Last update 16/09/2019 This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? The scenarios in the following example demonstrates how two transactions which are substantively very similar but have different legal contract structures are accounted for in the same way (illustrating how … Read more

Identify Property development obligations – Separate contracts

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Last update 16/09/2019 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 is that a vendor should recognise revenue to depict the transfer of promised goods or services to customers in an … Read more

Identify Property development obligations – Additional clause

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Last update 16/09/2019 This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? The scenarios in the following example demonstrates how two transactions which are substantively very similar but have different legal contract structures are accounted for in the same way (illustrating how … Read more

Identify Equipment and consumables industry obligations

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Last update 16/09/2019 This is an example in a small series for illustrating the concepts in What is a good or service that is distinct? Identify Equipment and consumables industry obligations A vendor enters into a contract to supply a customer with an item of equipment and consumables that are required to operate the equipment. … Read more

Identify Building Construction performance obligations

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Last update 16/09/2019 These are two examples in a small series for illustrating the concepts in What is a good or service that is distinct? Construction of a building Identify Building Construction performance obligations A building contractor (the vendor) enters into a contract to build a new office block for a customer. The vendor is … Read more

Identify and separate Intangible assets

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Last update 25/11/2019 Identify and separate Intangible assets that is one of the most important exercises in a IFRS 3 business combination. The acquirer recognises, separately from goodwill, the identifiable intangible assets acquired in a business combination. An intangible asset is identifiable if it meets either the separability criterion or the contractual-legal criterion. Identify and … Read more

Identify a controlling party

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Last update 30/11/2019 Identify a controlling party – Like the analysis for non-structured entities, an investor ‘controls’ an investee if the investor is exposed to (has rights to) variable returns from its involvement with the investee, and has the ability to affect those returns through its power over the investee. Control involves power, exposure to … Read more