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Core principle 1An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates. Scope 2 This IFRS (IFRS 8) shall apply to: the separate or individual financial statements of an entity: … Read more

Objective 1 This IFRS: defines fair value; sets out in a single IFRS a framework for measuring fair value; and requires disclosures about fair value measurements. 2 Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and … Read more

1 [Deleted] Scope 2 This Standard shall be applied by all entities to all financial instruments within the scope of IFRS 9 Financial Instruments if, and to the extent that: IFRS 9 permits the hedge accounting requirements of this Standard to be applied; and the financial instrument is part of a hedging relationship that qualifies … Read more

Last update 12/02/2020 Introduction 6.1 Elements recognised in financial statements are quantified in monetary terms. This requires the selection of a measurement basis. A measurement basis is an identified feature—for example, historical cost, fair value or fulfilment value—of an item being measured. Applying a measurement basis to an asset or liability creates a measure for … Read more

Objective 1 An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. The objective of this Standard is to prescribe how to include foreign currency transactions and foreign operations … Read more

Last update 12/02/2020 48 An entity shall disclose, together with a commentary by management, the amount of significant cash and cash equivalent balances held by the entity that are not available for use by the group. 49 There are various circumstances in which cash and cash equivalent balances held by an entity are not available … Read more

Last update 12/02/2020 Topics hide Objective Scope Benefits of cash flow information Definitions Cash and cash equivalents Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis to assess the ability of the entity to generate cash and cash equivalents and the needs of the … Read more

Last update 12/02/2020 25 Cash flows arising from transactions in a foreign currency shall be recorded in an entity’s functional currency by applying to the foreign currency amount the exchange rate between the functional currency and the foreign currency at the date of the cash flow. 26 The cash flows of a foreign subsidiary shall … Read more

Last update 12/02/2020 10 The statement of cash flows shall report cash flows during the period classified by operating, investing and financing activities. 11 An entity presents its cash flows from operating, investing and financing activities in a manner which is most appropriate to its business. Classification by activity provides information that allows users to … Read more

Last update 20/02/2020 Topics hide Qualifying items Designation of hedged items Risk components Components of a nominal amount Relationship between components and the total cash flows of an item Qualifying items B6.3.1 A firm commitment to acquire a business in a business combination cannot be a hedged item, except for foreign currency risk, because the … Read more