IFRS 16 summary TheIFRS16 transition date has come and gone. Companies previously following the legacy IAS 17lease accountingguidance likely transitioned to IFRS 16 during their 2019 fiscal year, in accordance with the standard’s effective date of January 1, 2019, for annual reporting periods begi...
Leases of low-value assets qualify for the simplified accounting treatment explained above regardless of whether those leases are material to the lessee. The assessment is not affected by the size, nature or circumstances of the lessee. Accordingly, different lessees are e...
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Therefore, IFRS 16 has done away with the operating versus finance lease distinction and requires accounting for all leases to be ‘on-balance sheet’ for lessees. This IFRS-16 course, with reading materials, and case examples, is designed to help in smooth implementation of IFRS-16. It ...
Companies usually sell more than one product, each of which is subject to its own market forces. Some products are profitable and others are not. Some require more assets while others require less.
The Fund uses different methods to measure and manage the various types of risk to which it is exposed; these methods are explained below. IFRS7p33 3.1.1 Market risk (a) Price risk IFRS7p33(a), 33(b) The Fund is exposed to equity securities price risk and derivative price risk. This...
This contract might meet the optional scope exclusion explained in section 2.3, because the maximum shortfall is the mortgage balance (that is, the benefit to the borrower is limited to the amount otherwise required to settle their obligation). If the entity does not elect to apply ...
Examples include a liability associated with a pending lawsuit or a liability associated with the company’s future cost of fixing a product under warranty. When comparing US GAAP and IFRS, differences in the definition of the word “probable” and the measurement techniques used can lead to diff...
IFRS 15 Explained: Full Guide on 5-step Model for Revenue Recognition + Free Journal Entries Template bySilvia Updated: April 2025 IFRS 15 sets out the 5-step model for recognizing revenue from contracts with customers. This guide simplifies each step with practical examples — including a teleco...