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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Common control business combinations – How should an entity account for a business combination involving entities under common control? This is an important issue because common control combinations occur frequently but are excluded from the scope of IFRS 3 – the IASB’s standard on business combination accounting. … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 Commodity finance IFRS the 6 best examples – A key issue is whether the contract to deliver a non-financial item (the commodity) falls within the scope of IFRS 9 Financial Instruments. Although IFRS 9 would appear to apply only to financial assets and financial liabilities, certain contracts … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 26/02/2020 Clear IFRS 9 Fair value hedge accounting – The fair value hedge is one of three hedges defined in IFRS 9, the others are the cash flow hedge and the hedge of a net investment. Hedge accounting can bring a number of advantages over traditional accounting methods. … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Changes in ownership no loss of control – Changes in a parent’s ownership interest that do not result in a change in control of the subsidiary that is a business are accounted for as equity transactions (through other comprehensive income). Thus, if the parent maintains control, it … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Changes in interest resulting in a loss of control – The loss of control of a subsidiary that is a business, other than in a non-reciprocal transfer to owners, results in the recognition of a gain or loss on the sale of the interest sold and on … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 Assets acquired in an exchange transaction – Assets are usually acquired through an exchange transaction, which can be a monetary or a non-monetary exchange. The accounting for assets acquired in an exchange transaction including the recognition and measurement under IFRS is discussed in this session. Initial recognition An … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 All about discounts and rebates IAS 2 Inventory – Discounts and rebates can be offered to purchasers in a number of ways, for example trade discounts, settlement discounts, volume-based rebates and other rebates. Accounting for these reductions will vary depending on the type of arrangement. The purchaser’s … Read more