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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS vs US GAAP Intangible assets goodwill IFRS Definition US GAAP Definition IFRS Initial recognition and measurement US GAAP Initial recognition and measurement IFRS Research and development US GAAP Research and development IFRS Software developed for sale US GAAP Software developed for sale IFRS Internal-use software US GAAP … Read more
Performance obligations at a point in time or in full ‘Performance obligations satisfied at a point in time’) and Performance obligations satisfied over time are the two choices in IFRS 15. Performance obligations at a point in time Determine over time To determine whether revenue allocated to a performance obligation should be recognised over time, … Read more
« Back to Glossary Index (adsbygoogle = window.adsbygoogle || []).push({}); The (overall) business model test is about whether the asset is part of a group or portfolio that is being managed within a business model whose objective is to hold and collect contractual cash flows from the non-equity financial assets (IFRS 9 measurement at Amortized … Read more
« Back to Glossary Index (adsbygoogle = window.adsbygoogle || []).push({}); A debt instrument is an asset that an entity, such as an individual, business, or the government, uses to raise capital or to generate investment income. For instance, a company may need to finance the purchase of a new piece of equipment, while government agencies may require financing … Read more
IFRS 11 Joint Arrangements quick overview provides the fastest overview on financial reporting by entities that have an interest in arrangements that are bound by a contractual arrangement providing two or more parties joint control. OBJECTIVE To establish principles for financial reporting by entities that have an interest in arrangements that are controlled jointly (i.e. … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Financial assets at fair value through profit or loss (FVPL) is the remaining classification and measurement application (the others ‘amortised costs’ and ‘fair value through other comprehensive income’ are strictly defined), if the business model is not that of ‘hold to collect’ or ‘hold to collect and sell’ or the SPPI … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS 15 Measuring progress to completion Introduction Practical expedient in IFRS 15 for recognition of revenue over time Selecting a method to measure progress Time-based measure of progress: Technical support services Time-based measure of progress: Unspecified updates Determining which measure of progress to apply is not a free … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Methods for measuring progress towards complete satisfaction of a performance obligation B14 Methods that can be used to measure an entity’s progress towards complete satisfaction of a performance obligation satisfied over time in accordance with paragraphs 35–37 include the following: output methods (see paragraphs B15–B17); and input methods (see paragraphs … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Need for accounting measurementNeed for accounting measurement provides a summary of the measurement bases in use in Financial Reportingand the concepts behind these measurement bases.The measurement bases that will be considered here are: Topics hide Need for accounting measurement Need for accounting measurement provides a summary of the measurement bases … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS 9 Eligible Hedged items The definition of a Hedged item Risk components of non-financial items Contractually specified risk components Non-contractually specified risk components IFRS 9 Inflation as a risk component The ‘sub-LIBOR issue’ IFRS 9 Hedging groups of net positions IFRS 9 Hedging layers of a group … Read more