IAS 1 Presentation of Financial Statements

Advertising and promotional costs

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Topics hide Advertising and promotional costs Promotional catalogues and brochures Samples Media advertising In summary Advertising and promotional costs The purpose of this narrative is to provide guidance when accounting for expenditure on advertising and promotional activities, including: promotional catalogues and brochures; samples; and media advertising. Promotional catalogues and brochures Catalogues that are distributed free … Read more

Equity – 2 understand it all at best

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Topics hide Equity 1. Equity the residual interest in the assets of the entity after deducting all its liabilities 1. Statement of Financial Position 2. Equity instrument is the contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities 2. Statement of Financial Position 3. Equity interests … Read more

Disclosure non-financial assets and liabilities example

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Topics hide Disclosure non-financial assets and liabilities example 8 Non-financial assets and liabilities 8(a) Property, plant and equipment 8(b) Leases 8(c) Investment properties 8(d) Intangible assets 8(e) Deferred tax balances 8(f) Inventories 8(g) Other assets and assets classified as held for sale 8(i) Provisions 8(j) Recognised fair value measurements Disclosure non-financial assets and liabilities example … Read more

Example accounting policies

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Topics hide Example accounting policies Example accounting policies guidance Whether to disclose an accounting policy Change in accounting policy – new and revised accounting standards Early adoption of accounting standards Standards and interpretations issued but not yet effective Financial instruments Employee benefits Reclassification Other potential disclosures Example accounting policies 25 Summary of significant accounting policies … Read more

What Is Fintech reporting IFRS 15

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Topics hide What Is Fintech or Financial Technology And Its Benefits? Financial Technology or Fintech? Example Fintech presentation of Revenue Significant accounting policies – Fintech Revenue C. Interest D. Fintech Fees and commission E. Net trading income F. Net income from other financial instruments at fair value through profit or loss G. Dividend income Notes … Read more

Initial Coin Offering

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Topics hide Initial Coin Offering Accounting for token pre-sale agreements Accounting for ICOs by the issuer IFRS 9 – Financial liability IAS 32 – Equity instrument IFRS 15 – Revenue transaction/prepayment for future goods and services Consider other relevant guidance Accounting for a purchase of goods or services by the ICO entity in exchange for … Read more

M and A

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M and A or Mergers and Acquisitions in IFRS language Business Combinations. 1 Identifying a business combination IFRS 3 refers to a ‘business combination’ rather than more commonly used phrases such as takeover, acquisition or merger because the objective is to encompass all the transactions in which an acquirer obtains control over an acquiree no … Read more

What is initial public offering

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Topics hide What is initial public offering Back-door listings Disclosure of key judgements Cost of initial public offering IPO costs cash flow classification Share-based payments at IPO What is initial public offering An Initial Public Offering (IPO) comprises of a privately owned business that wants access the public capital market through the sale of securities … Read more

Disclosure non-financial assets and liabilities

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Topics hide Disclosure non-financial assets and liabilities Disclosure non-financial assets and liabilities Guidance Disclosing non-financial assets and non-financial liabilities in one note Accounting policies, estimates and judgements Classes of property, plant and equipment Leasing disclosures Impairment Deferred tax assets and liabilities Assets held for sale Employee benefit obligations Fair value measurements Other potential disclosures Disclosure … Read more

Disclosure Corporate Income Tax

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Topics hide Disclosure Corporate Income Tax Disclosure corporate income tax – Guidance Relationship between tax expense and accounting profit Initial recognition exemption – subsequent amortisation Taxation of share-based payments Income tax recognised outside profit or loss Unrecognised temporary differences Other potential disclosures Changes in tax rate Disclosure corporate income tax example 6 Income tax expense … Read more