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Topics hide What happened in the reporting period Example disclosure – What happened in the reporting period Overview of acquisition Overview discontinued operation What happened in the reporting period There is no requirement to disclose a summary of significant events and transactions that have affected the company’s financial position and performance during the period under … Read more
An economic resource is a right by the reporting entity that has the potential to produce economic benefits. An economic resource in general has the form of an asset. This information is provided in the financial position. Potential to produce economic benefits – Within an economic resource, a feature that already exists and will produce economic benefits … Read more
Last Updated on 28/01/2020 by 75385885 Topics hide IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 5 Presentation and disclosure Presenting discontinued operations IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 5 Presentation and disclosure 30 An entity shall present and disclose information that enables users of the financial … Read more
Last Updated on 07/02/2020 by 75385885 Topics hide IFRS 3 Business Combinations IFRS 3AG Disclosure of business combinations IFRS 3 Business Combinations IFRS 3AG Disclosure of business combinations Disclosures (application of paragraphs 59 and 61) B64 To meet the objective in paragraph 59, the acquirer shall disclose the following information for each business combination that … Read more
Topics hide Sale with a right of return in IFRS 15 Worked example – Sale with a right of return Partial refunds Restocking fees and costs Conditional right of return Historical experience Sale with a right of return in IFRS 15 Under IFRS 15 Revenue from contract with customers, when an entity makes a sale … Read more
Topics hide The SPPI Test Overall assessment Money market funds Factors to consider in the SPPI Test Whether payment terms are “not genuine” or “de minimis” Rights in bankruptcy or when non-payment happens Arrangements denominated in a foreign currency Prepayment and term extending options Extending options Other contingent payment features Non-recourse arrangements The time value … Read more
Use back button from the brower Last Updated on 23/02/2021 by 75385885 At initial recognition and measurement a financial asset (subsequently) measured at amortized costs is measured at fair value plus directly attributable transaction costs. A financial asset is classified as subsequently measured at amortised cost if (IFRS 9 4.1.1): the contractual terms of the … Read more
Last Updated on 03/02/2020 by 75385885 Topics hide IFRS 15 Revenue from Contracts with Customers IFRS 15 Right of return Example 22—Right of return IFRS 15 Revenue from Contracts with Customers IFRS 15 Right of return Part of the main section Measurement – Determining the transaction price – Constraining estimates of variable consideration IFRS 15 … Read more
Topics hide Variable consideration in transaction price Customer credit risk Variable consideration Example – Variable consideration – over-time revenue recognition Example – variable consideration – point in time recognition Estimating the variable consideration Example – Variable consideration – expected value method Example – Variable consideration – most likely amount Variable consideration in transaction price Variable … Read more
IFRS 15 Revenue from contracts with customers – the easy way to obtain an solid overview IFRS 15 Revenue from Contracts with Customers (here is the full standard) establishes 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 … Read more