IFRS 16 Appendix B Lessor lease classification

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Topics hide IFRS 16 Leases IFRS 16 Appendix B Lessor lease classification Sublease classification IFRS 16 Leases IFRS 16 Appendix B Lessor lease classification Application Guidance to paragraphs 61 – 66 B53 The classification of leases for lessors in this Standard is based on the extent to which the lease transfers the risks and rewards … Read more

IFRS 15 Customers unexercised rights and breakage

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IFRS 15 Customers unexercised rights and breakage INTRO An entity may receive a non-refundable prepayment from a customer that gives the customer the right to receive goods or services in the future. Common examples include gift cards, vouchers and non-refundable tickets. Typically, some customers do not exercise their right – this is referred to as … Read more

IFRS 15 Customers unexercised rights

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Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Customers unexercised rights IFRS 15 Revenue from contracts with customers IFRS 15 Customers unexercised rights B44 In accordance with paragraph 106, upon receipt of a prepayment from a customer, an entity shall recognise a contract liability in the amount of the prepayment for its … Read more

5 steps in IFRS 15 – best quick read

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Topics hide 5 steps in IFRS 15 The 5 steps in IFRS 15 Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when or … Read more

Bill-and-hold arrangements in IFRS 15

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Bill-and-hold arrangements Bill-and-hold arrangements occur when an entity bills a customer for a product that it transfers at a point in time, but retains physical possession of the product until it is transferred to the customer at a future point in time. This might occur to accommodate a customer’s lack of available space for the … Read more

IFRS 15 Bill-and-hold arrangements

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Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements IFRS 15 Revenue from contracts with customers IFRS 15 Bill-and-hold arrangements B79 A bill-and-hold arrangement is a contract under which an entity bills a customer for a product but the entity retains physical possession of the product until it is transferred to … Read more

Repurchase agreements in IFRS 15

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Topics hide Repurchase agreements in IFRS 15 A forward or a call option An approach that focuses on the repurchase price Requirements for repurchase agreements not applicable to arrangements with a guaranteed resale amount Conditional forwards or call options Right of first refusal Repurchase agreements in IFRS 15 INTRO Repurchase agreements in IFRS 15 – … Read more

IFRS 15 Repurchase agreements

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Topics hide IFRS 15 Revenue from contracts with customers IFRS 15 Repurchase agreements A forward or a call option A put option IFRS 15 Revenue from contracts with customers IFRS 15 Repurchase agreements B64 A repurchase agreement is a contract in which an entity sells an asset and also promises or has the option (either … Read more

IFRS 15 Sale of Non financial assets

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Topics hide IFRS 15 Sale of Non financial assets Sale or transfer of a subsidiary or associate IFRS 15 Sale of Non financial assets INTRO IFRS 15 Sale of Non financial assets – Certain aspects of IFRS 15 apply to the sale or transfer of non financial assets (such as intangible assets and property, plant, … Read more