Financial Instruments Definition: IFRS 9 Guidance

financial instruments definition

Financial Instruments Definition as per IFRS 9 STATES it could be Financial Asset, Financial Liability or an Equity Instrument of another entity. The objective of IFRS 9 is to ESTABLISH principles for the financial reporting of financial assets and liabilities that will present relevant and valuable information to users of … Read More

IFRS 16 Lessor Accounting — Leases: Finance Vs Operating

ifrs 16 lessor accounting

IFRS 16 Lessor Accounting DESCRIBES that lessors account for finance leases by initially de-recognizing the asset and recognizing a receivable for the net investment in the lease. Initial direct costs (other than those incurred by a manufacturer or dealer lessor) are INCLUDED in the ‘Net Investment in the Lease’. IFRS 16 … Read More

IFRS 16 Lessee Accounting — Leases: All-Inclusive

ifrs 16 lessee accounting

IFRS 16 Lessee Accounting DEPICTS the way by which a company records the financial impacts of its leasing activities. Leases that meet SPECIFIC classification requirements must be recorded on a company’s Financial Statements. IFRS 16 Lessee Accounting – Objective The objective of IFRS 16 is to report information that (a) … Read More

IFRS 15 Summary: Scope, Revenue Recognition and 5 Step Model

ifrs 15 summary

IFRS 15 Summary BRIEFLY describes “Revenue from Contracts with Customers”, which is an International Financial Reporting Standard issued by the International Accounting Standards Board (IASB). It is EFFECTIVE for annual periods beginning on or after January 1, 2018. IFRS 15 Summary – Scope [Replaced IAS 18] IFRS 15 INCLUDES several … Read More