Revenue. Construction Contracts. From the perspective of the lessee, leases are classified as either operating or capital (IFRS uses the term “finance lease” instead of “capital lease”). Employee Benefits. Januar 2018 eine Stellungnahme beim IASB zum zuvor veröffentlichten ED/2017/5 Accounting Policies and Accounting Estimates – Proposed amendments to IAS 8 einge­reicht. IFRS Interpretations Committee - Agenda Decisions (September 2018) 2018/05. Amendments to HKFRS/IFRS 3-Definition of a Business. IFRS 9 Financial Instruments Why you need to work with BDO on IFRS 9 ‘Financial Instruments’ Failing to implement IFRS 9 adequately could lead to profit warnings, delays in lodging financial statements, qualified audit reports and even a loss of investor confidence and sharp falls in share price. Events After the Reporting Period. IFRS IN PRACTICE 2018 fi IFRS 9 FINANCIAL INSTRUMENTS 5 1. Exposure draft released on how to account for changes in accounting policies as a result of IFRS Interpretations Committee agenda decisions . Operating segments: The usefulness of IFRS 8 A study published by ICAS in 2012 investigating the issues around implementation of IFRS 8. amount, less any amount of the revenue that will not be taxable in future periods’ (IAS 12.8). Die Europäische Beratungsgruppe zur Rechnungslegung (European Financial Reporting Advisory Group, EFRAG) hat am 8. Consumer Business BDO’s consumer business expertise combines the retail, tourism, leisure and hospitality industries. BDO Center for Business Innovation When it comes to business, innovation is changing everything. BDO’s dedicated team of experienced professionals offers comprehensive IFRS services designed both to ensure compliance and to minimize disruption within our clients’ businesses. IAS 1 Presentation of Financial Statements 1 January 2005 35 IAS 2 Inventories 1 January 2005 36 IAS 7 Statement of Cash Flows 1 January 1994 37 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 1 January 2005 38 IAS 10 Events After the Reporting Period 1 January 2005 39 IAS 11 Construction Contracts 1 January 1995 40 IAS 8. IAS 19. BDO real estate and construction team is available to collaborate with you, wherever you do business. Guidance for jointly controlled entities that was previously included in IAS 31 Interests in Joint Ventures is now provided in IFRS 11. Tali modifiche sono … Example 1 – the tax base of an asset Company A purchased an item of property, plant and equipment for CU10,000. Technology, Media & Entertainment, Telecommunications Just as technology rapidly evolves, so too does the sector. Income Taxes. Accounting Policies, Changes in Accounting Estimates and Errors. Retrospective application of the amendments are required as per IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. IAS 19 (S) Employee Benefits (Superseded from 1 Jan 2013) IAS 20 Retrospective restatement is correcting the recognition, measurement and disclosure of amounts of elements of IAS 18. The International Accounting Standards Board (“IASB”) has released an exposure draft that proposes amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”). The consultation closes in July 2018. IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies was issued by the International Accounting Standards Committee in December 1993. IAS 16. IAS 16 –Property, Plant and Equipment Overview of Major Differences ASPE and IAS 17 contain broadly similar requirements concerning leases, with some differences in specific situations. On 21 November 2019, the International Accounting Standards Board issued a Guide to Selecting and Applying Accounting Policies – IAS 8 (Guide). – Disclosures may differ depending on the transition method chosen by the entity: For example, entities applying IFRS 16 under the full retrospective Property, Plant and Equipment. IFRS 2 – being issued in 2004. A partire dal 1° gennaio 2020 sono divenute obbligatorie nei Paesi Membri le modifiche introdotte allo IAS1 - Presentazione del bilancio e allo IAS 8 - Principi contabili, cambiamenti nelle stime contabili ed errori, relativamente alla definizione di rilevanza. View Notes - IAS 16 from COMMERC 105 at Oxford High School, Oxford. IAS 10.3 a) i.V.m. IASB issues guide on selecting and applying accounting policies . International Accounting Standards Board seeks comments on proposed amendments to IAS 8 News item published by the IASB on 27 March 2018 announcing a public consultation for proposed narrow-scope amendments to IAS 8. It replaced IAS 8 Unusual and Prior Period Items and Changes in Accounting Policies (issued in February 1978). The debates resulted in mandatory requirements for share-based payment transactions – i.e. Amendments to HKAS/IAS and HKAS/IAS 8 - Definition of Material. IAS 17. 2019/01. ASPE - IFRS - BDO Canada An entity is required to assess at each reporting date whether there is any indication of impairment.Paragraph 12 of IAS 36 sets out examples of impairment indicators, both external and internal indicators.For the purpose of recognition and measurement of an impairment loss, ASPE requires a long-lived asset to be. IFRS AT A GLANCE IAS 16 Property Plant and Equipment As at 1 July 2014 IAS 16 Property Plant and … Принципи МСФЗ, базові стандарти та облік необоротних активів ми розглянемо на онлайн тренінгу разом з експертом bdo Академії Міжнародні стандарти фінансової звітності - нова ступінь в розвитку професійної діяльності. Stay abreast of legislative change, learn … All disclosure requirements that, under previous guidance, were included in the individual standards (IAS 27(2008), IAS 28(2008) and IAS 31), are now set out in IFRS 12. IAS 10. The IASB completed IFRS 9 in July 2014, by publishing a Совет по МСФО (iasb) опубликовал обзор предложенных поправок к ias 8 «Учетная политика, изменения в бухгалтерских оценках и ошибки» в своем проекте документа (ed), выпущенном в марте 2018 года. IAS 11. Key facts. Our approach is collaborative, and as one of the world’s leading accounting and advisory organizations, our … INTRODUCTION IFRS 9 Financial Instruments1 (IFRS 9) was developed by the International Accounting Standards Board (IASB) to replace IAS 39 Financial Instruments: Recognition and Measurement (IAS 39). Accounting Policies, Changes in Accounting Estimates and Errors, when applicable. Segment reporting – IFRS 8 23 Employee benefits – IAS 19 24 Share-based payment – IFRS 2 26 Taxation – IAS 12, IFRIC 23 27 Earnings per share – IAS 33 28 Balance sheet and related notes 29 Intangible assets – IAS 38 30 Property, plant and equipment – IAS 16 31 Investment property – IAS 40 32 Impairment of assets – IAS 36 33 Leases. A fresh look at IFRS 8, ‘Operating segments’ Guide produced by PwC in March 2015 explaining the key requirements of IFRS 8 and looking at practical issues that have developed since the standard was issued. IAS 12. BDO is continuously finding new ways to help your organization thrive. The amendments to IAS 1 are applicable for annual periods beginning on or after 1 January 2022. IAS 8 Accounting policies, changes in accounting estimates and errors 2017 - 07 2 Retrospective application is applying a new accounting policy to transactions, other events and conditions as if that policy had always been applied. the Board, the International Accounting Standards Committee (IASC), issued a discussion paper on the topic. The amendments are a response to findings that some companies experienced difficulties using the old definition when judging whether information was material for inclusion in the financial statements. BDO Member Firms are located in over 100 countries worldwide (e) Contact details including e-mail address: HThomson@bdoglobal.com andrew.buchanan@bdo.co.uk 2 EFRAG is carrying out an assessment of the costs and benefits that will arise for preparers and for users in implementing IAS 1 (Revised), both in year one and in subsequent years. BDO summarises the changes to IFRS which became effective from 1 January 2020. IAS 21 outlines how to account for foreign currency transactions and operations in financial statements, and also how to translate financial statements into a presentation currency. Earlier application is permitted, however, in May 2020 proposed deferral of the effective date to 1 January 2023. BDO real estate and construction team is available to collaborate with you, wherever you do business. Amendments to IAS 1 and IAS 8: Definition of material. Tax Resource Center The tax function is transforming. Endgültige Stellungnahme zu den vorgeschlagenen Änderungen an IAS 8. IFRS 16 Leases replaces IAS 17, SIC 15, SIC 27 and IFRIC 4 and sets out the principles for the recognition, measurement, presentation and disclosure of leases by lessors and lessees. Modifications to address … Practical guide to Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 for interest rate benchmark (IBOR) reform The IASB has issued amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues arising during the reform of benchmark interest rates including the replacement of one benchmark rate with an alternative one. BDO has prepared a range of useful information and guidance to assist you and your business to manage IFRS 16 and its implications. IAS 10.8 bis zur Aufstellung bzw Feststellung in der Form zu berücksichtigen sind, dass die Abschlusszahlen (Bilanz/GuV) anzupassen sind. 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