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Last updated: 14 March 2020 IAS 2 covers accounting for inventories. It applies to all inventories except financial instruments (covered by IAS 32 and IFRS 9) and biological assets that are in the scope of IAS 41. Additional scope exemption relates to the measurement of inventories by certain producers of agricultural and forest products, agricultural … Read more
Last updated: 13 March 2020 General requirements for financial statements presentation are included in IAS 1 Presentation of Financial Statements. In general, this standard relates only to annual financial statements. However, paragraphs IAS 1.15-35 apply also to interim reporting (IAS 1.4). They cover fair presentation and compliance with IFRS, going concern, accrual basis of accounting, … Read more
The pandemics of coronavirus, or COVID-19 has been here for a while and after the first shock of its quick spread and effect on people’s health, we are all seeing its economic consequences. In order to stop the spread, governments in many countries ordered complete lockdown. Many businesses had to stop their operations and thus … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 15/05/2020 IFRS 2 How to easily determine the grant date – The determination of grant date is important because this is the date on which the fair value of equity instruments granted is measured. Usually, grant date is also the date on which recognition of the employee cost … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 12/05/2020 Topics hide IFRS 2 Employee equity-settled share-based payment – Headlines Identify an employee Basic principles Modified grant-date method, including true-up of the share-based payment cost Example 1 – Equity-settled share-based payment transaction with a service condition Example 2 – Equity-settled share-based payment transaction with a non-market performance … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 07/05/2020 Topics hide The 2 essential types of share-based payments – Snapshot 1. Equity-settled share-based payments 2. Cash-settled share-based payments 3. Other topics in IFRS 2 Choice of settlement Modifications Share-based payments in groups of companies Equity-settled share-based payments with third parties Cash or equity settled share-based payments … Read more
The standard IAS 10 has been here for a long time. In fact, it is one of the oldest standards in place. It is sweet and short and often it is seen as a minor thing compared to other complex standards. However, the ongoing pandemic of coronavirus brought this standard to light. Clearly, the biggest … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 03/05/2020 IFRS 2 Taxes and share-based payments best studies – In some countries, a share-based payment arrangement may be subject to a tax payment related either to the employee’s own tax obligations or to employee-based taxes levied on the employer. The tax is often based on the difference … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 03/05/2020 IFRS 2 Quick-start best share-based payments – A share-based payment is accounted for under IFRS 2 if it meets the definition of a share-based payment transaction and the transaction is not specifically scoped out of the standard. The standard does not contain a stand-alone definition of a … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 9 Best practical Impairment related company loans – What are related company loans? Technically not the most difficult question one would think, BUT……… Entities must first consider whether the loan is within the scope of IFRS 9 or another standard. This is because IFRS 9: 2.1(a) scopes … Read more