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Last updated: 14 April 2020 IFRS 5 sets out specific requirements for presentation and disclosure of discontinued operations. A discontinued operation is a component of an entity that either has been disposed of, or is classified as held for sale, and (IFRS 5.32) represents a separate major line of business or geographical area of operations, is … Read more
Last updated: 14 April 2020 Under IFRS 5, a non-current asset, or a disposal group, is classified as held for sale if its carrying amount will be recovered principally through a sale transaction rather through continuing use (IFRS 5.6), which will be the case if the following conditions are met (IFRS 5.7): asset/disposal group must … Read more
Last updated: 4 April 2020 Disclosure requirements relating to business combinations are set out in paragraphs IFRS 3.59-63,B64-67. Additionally, paragraph IAS 7.40 also lists disclosure requirements for obtaining and losing control of subsidiaries or other businesses, but these can be met by complying with IFRS 3 requirements. Interestingly, disclosure requirements of IFRS 13 relating to … Read more
Last updated: 4 April 2020 Under IFRS 3, business combinations should be accounted for using the acquisition method consisting of the following steps (IFRS 3.4-5): Identifying the acquirer. Determining the acquisition date. Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree. Recognising and measuring goodwill or a … Read more
Last update 05/03/2020 Topics hide Liabilities and equity (see also paragraphs AG13–AG14J and AG25–AG29A) Puttable instruments Liabilities and equity (see also paragraphs AG13–AG14J and AG25–AG29A) AG13 | AG14J | AG25 | AG29A 15 The issuer of a financial instrument shall classify the instrument, or its component parts, on initial recognition as a financial liability, a … Read more
Last updated: 15 May 2020 Share-based payment agreements are transactions in which a third party is entitled to receive equity instruments of the entity (or another group entity) or cash amounts based on the value of such equity instruments in exchange for goods or services. See Appendix A to IFRS 2 for full definitions. There … Read more
Last update 12/02/2020 Topics hide Objective Scope Objective 1.1 The objective of this Standard is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity’s future cash flows … Read more
Last updated: 7 January 2020 Investment property Definition of investment property Investment property is property (land or a building—or part of a building—or both) held to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes; or sale in the … Read more