accounting updates

1 ) Accounting News 6

Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6. Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6. Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6 Accounting News 6.Accounting News 6 Accounting News 6 Accounting…...

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2 ) Current Tax and Deferred Tax Liabilities or Assets

Current Tax and Deferred Tax Liabilities or Assets.When there is uncertainty over income tax treatments, paragraph 4 of IFRIC 23 requires an entity to ‘recognise and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying…...

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3 ) Lease Term and Useful Life of Leasehold Improvements

The Committee received a request about cancellable or renewable leases and Lease Term and Useful Life of Leasehold Improvements. The cancellable lease described in the request is one that does not specify a particular contractual term but continues indefinitely until either party to the contract gives notice to terminate. The contract includes a notice period of, for example, less than…...

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4 ) Lessee’s Incremental Borrowing Rate

The Committee received a request about the definition of a Lessee’s Incremental Borrowing Rate in IFRS 16. A lessee’s incremental borrowing rate is required to reflect the interest rate in a loan with both a similar maturity to the lease and a similar payment profile to the lease payments. Measuring Lease Liability Applying IFRS 16, a lessee uses its incremental…...

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5 ) Compensation for Delays or Cancellations

The Committee received a request about an airline’s obligation to compensate for delays or cancellations of flights. In the fact pattern described in the request: legislation gives a flight passenger (customer) the right to be compensated by the flight provider (entity) for delays and cancellations subject to specified conditions in the legislation. The legislation stipulates the amount of compensation, which…...

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