Atea has determined that it acts as an agent in the resale of standard software and vendor services under the principal/agent criteria in IFRS 15 “Revenue from Contracts with Customers”. For this reason, Atea will implement a change to its accounting policy and recognize revenue from these ...
IFRSThis paper makes the case that mandatory adoption of International Financial Reporting Standards (IFRS) will lead to major structural change in accounting educaSinger, RobertSwanson, Zane L.Mack, JenniferSocial Science Electronic PublishingSinger R,Swanson Z L,MackJ.IFRS:A Catalyst for Change in...
What happens if a company revises its capitalization threshold from CU 1 000 to CU 1 500 will be accounted for as change in accounting policy and will beapplied retrospectively?” IFRS Answer: Materiality and aggregation It all has something to do withmateriality and aggregation. You need toset...
In terms of the financial statements, there is no single IFRS Accounting Standard which addresses climate change. However, IFRS Accounting Standards provide a framework for incorporating the risks of climate change into companies’ financial reporting. Companies must consider climate-...
The change in functional currencyitself – as I explained above, you need to make this change prospectively without any restatement of previous periods. The change in presentation currency– the change in presentation currency is treated as achange in accounting policyand is to be applied retrospecti...
The reason is that here, you did not change any accounting policy that would require a restatement. Instead, acquiring or selling a subsidiary is anew event occurringin the current reporting period, but not in the past. Therefore, it’s totally OK to present comparatives as they are. You ar...
Any changes or modification of IFRS accounting policies may requireachangeinthe futureresultsorarestatement of reportedresults. prudential.co.uk prudential.co.uk 國際財務報告準則會計政策的任何變更或修訂,可能導致未來業績改變或須重列已呈報業績。
(4) Banking book investments The Bank strengthened its research on macro-economy and monetary policy to accurately identify the market trend, actively widened the types of bond underwritten and bond investments in order to improve the intermediary business income and overall bond profitability. The ...
Assessing the Effect of the Transition to IFRS on Equity: The Case of the FTSE 100 The paper presents the results of an analysis of the reconciliations of equity presented as part of the transition from UK Generally Accepted Accounting Principles (UK GAAP) to International Financial Reporting ...
Companies face IFRS tax change. Companies reporting under international accounting standards will have to file different tax returns when the first tax installments are due next month, writes Alex Hawkes.(International Financial Reporting Standards)(Brief Article)...