Best read IFRS 15 Revenue disclosure requirements

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(adsbygoogle = window.adsbygoogle || []).push({}); IFRS 15 Revenue disclosure requirementsprovides the disclosure requirements for IFRS 15 Revenue from Contracts with Customers in 8 Questions & Answers Topics hide Check the answers to these 8 questions: DISCLOSURES IN THE NOTES TO THE FINANCIAL STATEMENTS 1. What are the cross-cutting issues in the preparation of the notes … Read more

Resources

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List of external resources that an accountant may find useful and that are relevant to multiple IFRS Standards. Useful resources that are related to a specific standard are linked to in the respective parts of our knowledge base. Impact of COVID-19 on financial statements Recent hot topic. The best publications are by EY and PWC … Read more

Best guide IFRS 16 Lessee modifications

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Best guide IFRS 16 Lessee modifications Overview Discount rates Separate lease Not a separate lease Increase in scope not at stand-alone price Decrease in scope Other lease modifications More complex combinations of modifications Termination or break of a lease Master lease agreements Best guide IFRS 16 Lessee modifications … Read more

Best guide IFRS 16 Lessor modifications

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Best guide IFRS 16 Lessor modifications Discount rates Lessor modifications to finance leases Separate lease Not a separate lease – Finance to operating Not a separate lease – Finance to finance Determining whether the modification is substantial Accounting for a substantial modification Accounting for a modification that is … Read more

IFRS 16 Lessor

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Classification of leases Finance leases Recognition and measurement Initial measurement Subsequent measurement Operating leases Recognition and measurement Presentation Disclosure Finance leases Operating leases Classification of leases Application Guidance in Appendix B, paragraphs B53–B58 61 A lessor shall classify each of its leases as either an operating lease or … Read more

IFRS 16 Effective date of a modification

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide IFRS 16 Effective date of a modification IFRS 16 Effective date of a modification Related posts: Related posts: IFRS 16 Effective date of a modification The date on which to account for a lease modification is a key consideration – and may be earlier than you think. Lease … Read more

Right-of-use asset

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(adsbygoogle = window.adsbygoogle || []).push({}); An asset that represents a lessee’s right to use an underlying asset for the lease term.         IFRS terms or definitions are retrieved from IFRS Standards that come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). The information provided on this website is … Read more

Best read Impairment long lived assets IAS 36 vs ASC 360

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Impairment long lived assets IAS 36 vs ASC 360 Goodwill Impairment of assets IAS 36 vs ASC 360 Goodwill allocation Recognition of impairment loss Measurement of impairment loss Reversal of impairment loss Impairment of indefinite-lived intangible assets Unit of account Recognition and measurement of impairment loss Reversal of … Read more

Beware of COVID 19 Rent concessions IFRS accounting

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Beware of COVID 19 Rent concessions IFRS accounting IFRS 16 Rent concession amendments in a nutshell The lessee perspective The lessor perspective Not all rent concessions are in scope of the practical expedient A direct consequence of COVID-19 Revised consideration is substantially the same as or less than … Read more

Best read Impairment long lived assets IFRS 36 vs ASC 360

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(adsbygoogle = window.adsbygoogle || []).push({}); Topics hide Impairment long lived assets IFRS 36 vs ASC 360 Goodwill Impairment of assets IFRS 36 vs ASC 360 Goodwill allocation Recognition of impairment loss Measurement of impairment loss Reversal of impairment loss Impairment of indefinite-lived intangible assets Unit of account Recognition and measurement of impairment loss Reversal of … Read more