A European example of problems with identifying bargain purchases Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 17th edition: “In 2012, the issuer acquired businesses A, B and C. The three…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues arising in identifying at inception of a contract whether that contract is a lease, or contains a lease, in determining the lease term, and in measuring the lease…
Here’s an extract from a recent IASB update on the progress of its ongoing disclosure initiative: “At the March 2016 meeting of the Global Preparers Forum (GPF), IASB staff sought feedback on possible approaches to drafting disclosure requirements that will be included in the Principles of Disclosure Discussion Paper. The feedback will be used to…
Here’s one of the less inspiring items from the annals of CPA Canada’s IFRS Discussion Group, which I’ll present here almost in its entirety: “The challenge of disclosure overload is recognized by the IASB and many others in the financial reporting world. There are publications that highlight how a growing volume of disclosures can be…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. Last time we discussed some of the issues relating to initially measuring the lease liability. This is what it says about subsequent measurement: After the commencement date, a lessee shall measure the…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues arising in identifying at inception of a contract whether that contract is a lease, or contains a lease and in determining the lease term, as well as the standard’s major…
Here’s an issue discussed a while ago by Canada’s IFRS Discussion Group: “Entity A acquires 80 per cent of the issued shares of Entity B. Consideration is in the form of cash. Entity B has just one asset, the rights to a mineral property in the exploration and evaluation stage. As a result of the…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues attaching to the first step in the new standard’s lease accounting model, to identify at inception of a contract whether that contract is a lease,…
Here’s an issue discussed a while ago in Viewpoints: Applying IFRS in the Mining Industry – Accounting for Decommissioning Liabilities Assumed in a Business Combination, a document issued by the Mining Industry Task Force on IFRSs of CPA Canada and the Prospectors & Developers Association of Canada: “Mining entities often acquire projects directly or through the acquisition…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues attaching to the first step in the new standard’s lease accounting model, to identify at inception of a contract whether that contract is a lease,…
John Hughes IFRS Blog 