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Implementation of IFRS 17 ‘Insurance Contracts’ - Companion document on key judgements and accounting policy choices IFRS

We are pleased to share this companion document to ‘The implementation of IFRS 17 Insurance Contracts’ which has been issued by the Global Public Policy Committee (GPPC)1.

1 min read | 01 Jan 2020
Insights into IFRS 3: Definition of a Business (Amendments to IFRS 3) IFRS

In October 2018, the IASB issued ‘Definition of a Business’ making amendments to IFRS 3 ‘Business Combinations’. The amendments are a response to feedback received from the post-implementation review of IFRS 3 (‘the Standard’).

1 min read | 01 Nov 2019
Insights into IFRS 16: Presentation and disclosure IFRS

IFRS 16 requires lessees and lessors to provide information about leasing activities within their financial statements. The Standard explains how this information should be presented on the face of the statements and what disclosures are required. In this article we identify the requirements and provide a series of examples illustrating one possible way the note disclosures might be presented.

2 min read | 01 Jul 2019
Insights into IFRS 16: Sale and leaseback accounting IFRS

IFRS 16 makes significant changes to sale and leaseback accounting. A sale and leaseback transaction is one where an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) for consideration and leases that asset back from the buyer-lessor

1 min read | 01 Feb 2019
Advisor alert—Lease accounting considerations for buyers in power purchase agreements IFRS

A power purchase agreement (PPA) is a long-term contract under which an entity (the Buyer) agrees to purchase energy (e.g., electricity or thermal energy) for a period of time from another entity that generates the energy (the Seller), usually as a method of fixing the Buyer’s price of energy.

2 min read | 01 Jan 2019
Insights into IFRS 16: Lease term IFRS

Under IFRS 16 ‘Leases’, determining the correct ‘lease term’ is significant for a number of reasons. Firstly, the longer the lease term, the larger the lessee’s right-of-use asset and lease liability will be. Secondly, the length of the lease term determines whether a lease qualifies for the short-term lease exemption.

2 min read | 01 Dec 2018
Insights into IFRS 16: Interim periods IFRS

How do you treat a variable lease payment in the financial statements of an interim period?

1 min read | 01 Nov 2018
Insights into IFRS 16: Definition of a lease IFRS

IFRS 16 represents the first major overhaul of lease accounting in over 30 years. The new Standard will affect most companies that report under IFRS and are involved in leasing, and will have a substantial impact on the financial statements of lessees of property and high value equipment.

2 min read | 01 Nov 2018
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