In particular, how to account for contract assets and contract liabilitiesWhat are contract assets and contract liabilities?IFRS 15 includes the following definitions: Contract asset An entity’s right to consideration in exchange for goods or services that the entity h...
For an acquired intangible assets (a license to IP) is it possible to recognize this as assets under construction if we receive the IP information over time – and it will not function to its purpose until we have received all of the information. ...
Since we recognize revenue over the period , it is bit confusing recognizing these type of cost as an assets and being amortized over the period of time..? Reply Ramchand March 30, 2021 at 9:14 am Hello Sylvia, under the situation of a construction contract (using the percentage of ...
These factors include the Company's dependence on products produced from its key mining assets; fluctuating price of gold; risks relating to the exploration, development and operation of mineral properties, including but not limited to adverse environmental and climatic conditions, unusual and unexpected...
The five-step model for revenue recognition under IFRS 15 Step 1: Identify the contract with a customer A contract is an agreement between two or more parties that creates enforceable rights and obligations. For revenue recognition, a contract must meet certain criteria, such as both parties appr...
The five-step model for revenue recognition under IFRS 15 Step 1: Identify the contract with a customer A contract is an agreement between two or more parties that creates enforceable rights and obligations. For revenue recognition, a contract must meet certain criteria, such as both parties appr...
Before a provision for onerous contracts is recorded, the related assets under construction are measured at their net realisable value and written‑off if necessary. Onerous contracts are identified by monitoring the progress of the contract together with the underlying programme status. An estimate ...
50、(h)trade and other receivables2519,24914,65813,550ias 1.55finance lease receivables26198188182ias 1.55amounts due from customers under construction contracts27240230697ias 1.54(d)other financial assets228,7576,9495,528ias 1.54(n)current tax assets101256081ias 1.55other assets 23-ias 1.54(i)cash ...
IFRS 和GAAP 最大的不同在于他们的发展历史不同 IFRS来源于欧洲 欧洲公司有两个比较大的特点1.财报有地域差别 2.融资以银行借贷为主这样 他们就发展出了以principle为主的准则形式 简单说就是给你个大概范围 没有刻板的rule 这样 在不同国家之间 只要遵守principle就行了 剩下的部分可按照国家需求...
Under IFRS, balance sheets are presented fixed assets first, while US GAAP reports start with cash. IFRS allows both an order of liquidity and a current-non-current balance sheet format, while US GAAP only accepts the latter. On the income statement, IFRS accepts both a nature and function ...