Apart from meeting the above definition, the Framework has advised the following recognition criteria that ought to be met before an asset is recognized in the financial statements. The inflow of economic benefits to entity is probable. The cost/value can be measured reliably. Recognition Criteria ...
IFRS 16 Leases prescribes a single lessee accounting model that requires the recognition of asset and corresponding liability for all leases with terms over 12 months unless the underlying asset is of low value. This page provides information on the stan
applying paragraphs 11 and 12 of IAS 8 to its accounting policies for the recognition and measurement of exploration and evaluation assets – an entity does not have to consider the applicability of similar and related IFRS standards or the recognition and measurement criteria of the Conceptual ...
IFRS 15 integrates with IFRS 10 by requiring consistent application of revenue recognition principles across a group’s financial statements so that revenue is recognised based on the same criteria throughout all entities.
Both standards allow for the recognition of impairment losses on long-lived assets when the market value of an asset declines. When conditions change, IFRS allows impairment losses to be reversed for all types of assets except goodwill. GAAP takes a more conservative approach and prohibits reversal...
identifiable assets, liabilities and contingent liabilities that satisfy the following recognition criteria at that date, regardless of whether they had been previously recognised in the acquiree’s financial statements:(i)in the case of an asset other than an intangible asset, it is probable that ...
If a government grant meets the recognition criteria, IAS 20 generally allows either gross or net presentation on the balance sheet and/or income statement. For example, a company may elect gross presentation on its balance sheet and net presentation on its income statement. ...
词汇及原文翻译 Recognition of impairment losses and reversals 确认减值损失及转回 An entity shall recognize an impairment loss for any initial or subsequent write-down of the asset (or disposal group…
5.2 IFRS 9.4.1.2(b), 4.1.2A(b) Contractual cash flows assessment – the SPPI criterion One of the criteria for determining whether a financial asset should be classified as measured at amortised cost (see 5.1.2) or FVOCI (see 5.1.3) is whether the cash flows from the financial asset ...
electronic cash transfers. The exposure draft proposes clarifications to how this should be accounted for. The IASB also decided to develop an accounting policy option to allow a company to derecognise a financial liability before it delivers cash on the settlement date when specified criteria are ...