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http://traffic.libsyn.com/ifrsqa/037SoftwareLicenses.mp3 Podcast: Play in new window | Download Show notes IFRS Question 037: How to account for the sales of software licenses with subsequent updates? Hi Silvia, we are a software company. We develop various technical software programs and sell them to the clients together with 1-year of updates. How to account for the sale … Read more
http://traffic.libsyn.com/ifrsqa/038DTExpectedManner.mp3 Podcast: Play in new window | Download Show notes IFRS Question 038: How to calculate deferred tax when different tax rates apply to the recovery of the same asset? I work in a country with more than one tax rates and I have issues with the correct calculation of our deferred taxes. It relates … Read more
http://traffic.libsyn.com/ifrsqa/039_IFRS15Distinct.mp3 Podcast: Play in new window | Download Show notes IFRS Question 039: How to determine whether the performance obligation is distinct? I work for a software company. We develop software and sell it to our clients. Clients can buy the installation services from us. Also, we provide 1-year of support services after the purchase. … Read more
http://traffic.libsyn.com/ifrsqa/040_InvestmentGold.mp3 Podcast: Play in new window | Download Show notes IFRS Question 040: Accounting for investment gold under IFRS Hi Silvia, how should we account for the gold under IFRS, especially if it was acquired as a form of value storage? Should we account for the gold under IFRS 9 and IAS 32 as a … Read more
Last updated: 10 August 2020 As a general rule, assets and liabilities are presented as current and non-current in the statement of financial position (IAS 1.60). Current / non-current classification of assets General criteria for assets An entity classifies an asset as current when (IAS 1.66): it expects to realise the asset, or intends to … Read more
Last update 04/08/2020 What are Consolidated Financial Statements in IFRS 10 and the relations with IFRS 11 IFRS 12 IAS 27 IAS 28 and disclosures for consolidation and investments. Topics hide Look here IAS 27 Separate Financial Statements IFRS 10 Consolidated Financial Statements Investment entity IFRS 11 Joint Arrangements Determination of this classification: Consolidation replacement/alternative … Read more
Last update 20/07/2020 Overview IFRS 10 Consolidated Financial Statements – Short – To establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities Overview IFRS 10 Consolidated Financial Statements Longer – IFRS 10 replaces the part of IAS 27 Consolidated and Separate Financial Statements that … Read more
Did you note that with the globalizing world, the number of large entities decreases and their size increases? Just as an example – 20 years ago, there were about 50 large media companies in the USA, controlling US entertainment industry. I mean film studios, TV stations and similar companies. These days, there are just 6 … Read more
Last update 10/07/2020 IFRS 2 Fair value of equity instruments granted – Share-based payment transactions with employees are measured with reference to the fair value of the equity instruments granted (IFRS 2.11). The fair value of the equity instruments granted is determined as follows (IFRS 2.16-17): If market prices are available for the actual equity … Read more
Last update 07/02/2020 Appendix B Application guidance This appendix is an integral part of the IFRS. Estimating the fair value of equity instruments granted B1 Paragraphs B2–B41 of this appendix discuss measurement of the fair value of shares and share options granted, focusing on the specific terms and conditions that are common features of a … Read more