Contract

by

An agreement between two or more parties that creates enforceable rights and obligations.         IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised and/or amended) IFRS Standards for all or … Read more

Asset management or investment management

by

Topics hide Asset management or investment management Timing of revenue and profit recognition Step 1 – Determine the customer’s identity Step 1 – Apply the contract combination guidance Step 2/5 – Unbundling multiple service obligations within a single contract Step 3 – Treatment of upfront fees Step 3 – Variable consideration: the recognition of Management … Read more

Disclosure capital management

by

Topics hide Disclosure capital management Disclosure capital management guidance Capital risk management Dividends Other potential disclosures Example disclosure capital management 13(a) Risk management Guidance 1 Disclosure capital management Get the requirements for properly disclosing capital management procedures applied by your company to provide the users of your financial statements with useful financial data, in the … Read more

Disclosure Financial risk management

by

Topics hide Disclosure Financial risk management Disclosure Financial risk management guidance Classes of financial instruments Level of detail and selection of assumptions – information through the eyes of management Derivative financial instruments Market risk Credit risk Liquidity risk Other potential disclosures Disclosure Financial risk management example 12. Financial risk management Disclosure Financial risk management Disclosure … Read more

Profit or loss

by

Profit or loss is the total of income less expenses, excluding the components of other comprehensive income.         IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised and/or amended) IFRS … Read more

Expected Credit Loss Model

by

Use back button from the brower Last Updated on 25/02/2021 by 75385885 IFRS 9 establishes a three-stage impairment model, based on whether there has been a significant increase in the credit risk of a financial asset since its initial recognition. These three-stages then determine the amount of impairment to be recognised as expected credit losses … Read more

Foreign currency

by

Foreign currency is a currency other than the functional currency of the entity.         IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised and/or amended) IFRS Standards for all or … Read more

Classification of financial instruments

by

Use back button from the brower Last Updated on 25/02/2021 by 75385885     [classes subject to expected credit loss model] IFRS Synonyms: Measurement of financial instruments, Valuation of financial instruments, Classes of financial instruments, The IFRS 9 Framework Related Articles: Loans and receivables IFRS 7 Market risk disclosures IAS 32 Clearly distinguishing liability and equity … Read more

Disclosure non-financial assets and liabilities

by

Topics hide Disclosure non-financial assets and liabilities Disclosure non-financial assets and liabilities Guidance Disclosing non-financial assets and non-financial liabilities in one note Accounting policies, estimates and judgements Classes of property, plant and equipment Leasing disclosures Impairment Deferred tax assets and liabilities Assets held for sale Employee benefit obligations Fair value measurements Other potential disclosures Disclosure … Read more

Disclosure Corporate Income Tax

by

Topics hide Disclosure Corporate Income Tax Disclosure corporate income tax – Guidance Relationship between tax expense and accounting profit Initial recognition exemption – subsequent amortisation Taxation of share-based payments Income tax recognised outside profit or loss Unrecognised temporary differences Other potential disclosures Changes in tax rate Disclosure corporate income tax example 6 Income tax expense … Read more