Rebuttable presumption significant increase in credit risk

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Rebuttable presumption significant increase in credit risk – IFRS 9 contains a rebuttable presumption that credit risk has increased significantly when contractual payments are more than 30 days past due. This means that when payments are 30 days past due, the financial asset is considered to have … Read more

Property plant and equipment Example

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Property plant and equipment Example – Accounting policy example Property plant and equipment is stated at cost, less accumulated depreciation and accumulated impairment losses. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into the … Read more

Property plant and equipment

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 25/02/2020 Property plant and equipment (formerly know as tangible fixed assets, in short PPE) are tangible items that: are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one … Read more

New Lease Standard Comparing IFRS and US GAAP

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 New Lease Standard Comparing IFRS and US GAAP – The FASB and IASB issued their respective standards in the first quarter of 2016. The issuance of the standards are the culmination of multiple years of deliberating a leasing model with the primary objective of bringing almost all … Read more

Leveraged buyout IFRS 3 best reporting

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 13/04/2020 Leveraged buyout IFRS 3 best reporting – In corporate finance, a leveraged buyout (LBO) is a transaction where a company is acquired using debt as the main source of consideration. These transactions typically occur when a private equity (PE) firm borrows as much as they can from … Read more

Know it all purchase of 1 property investment

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Know it all purchase of 1 property investment – When should a purchase of investment property (or properties) be accounted for as a business combination, and when as a simple asset purchase? This is an important issue because the IFRS accounting requirements for a business combination are … Read more

Intangible assets Example

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Topics hide Intangible assets Example – Example accounting policy Intangible assets Example Related posts: Intangible assets Example – Example accounting policy Intangible assets, other than goodwill, include expenditure on the exploration for and evaluation of oil and natural gas resources, computer software, patents, licences and trademarks and … Read more

Industry IFRS

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 10/03/2020 Related posts: IFRS Definitions IFRSTerms Glossary Blogs by IFRS

Impairment Example

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 Impairment Example – Accounting example Impairment of property, plant and equipment, intangible assets, and goodwill The group assesses assets or groups of assets, called cash-generating units (CGUs), for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or CGU may not … Read more

IFRS vs US GAAP Taxation

by

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 IFRS vs US GAAP Taxation – Both US GAAP and IFRS base their deferred tax accounting requirements on balance sheet temporary differences, measured at the tax rates expected to apply when the differences reverse. Discounting of deferred taxes is also prohibited under both frameworks. Although the two … Read more