Treatment of Dividend Interim dividends announced by the directors but unpaid at the balance sheet date Interim dividends announced by the directors but unpaid at the balance sheet date are a liability at that balance sheet date where, and only …
Warranty sometimes lures us into buying a product or service. Warranty for two, five, or ten years on several products and services ranging from a backpack to an electronic gadget. Warranties assure of quality in a sense that the said …
Gift certificates typically represent a non-refundable pre-payment to an entity that gives the customer a right to receive goods or services in the future and obliges the entity to stand ready to transfer the goods or services. The core principle …
As we know, there has been an amendment to IFRS 3 regarding what we consider as the acquisition of the business and what is meant by the addition of an asset. In the article below we will discuss what has …
What is a period of time under IFRS 16? The term ‘period of time’ should not be interpreted too literally. An amount of use of the underlying asset, such as the number of production units that an item of equipment …
The acquisition method’s overall principles can be summarised in the following steps: Step -1: Identifying the acquirer. Step 2: Determining the acquisition date. Step 3: Recognising and measuring the consideration transferred for the acquiree, including any previously held interest, and …
Stapling transaction and Dual-listed entities under IFRS 3 A stapling arrangement (that is, one that combines separate entities and businesses by the unification of ownership and voting interests in the combining entities) is a business combination. The formation of dual …
What is CGU……. We have heard a lot of times that impairment should be carried at the individual CGU levels. now, what is this CGU… Here is what we have discussed some of the excerpts; A cash-generating unit is “the …
Do we know that valuation techniques under IFRS 13, The valuation technique should be consistent with the objective of estimating the price at which an orderly transaction to sell the asset, or to transfer the liability, would take place between …
Inventories – What are they? Inventories are assets that are a) Held for sale in the ordinary course of business b) In the process of production for such sale; or c) In the form of materials or supplies to be consumed …