Property, Plant and Equipment (PPE)
PPE - Introduction
17.1 Property, Plant and Equipment applies to accounting for property, plant and equipment and accounting for investment property whose fair value cannot be measured reliably without undue cost or effort on an ongoing basis. Investment Property applies to investment property whose fair value can be measured reliably without undue cost or effort. ...continue reading "Property, Plant and Equipment"
Disclosures for financial liabilities measured at fair value through profit or loss
The following disclosures make reference to disclosures for financial liabilities measured at fair value through profit or loss. Entities that have only basic financial instruments (and therefore do not apply Other Financial Instrument Issues ) will not have any financial liabilities measured at fair value through profit or loss and hence will not need to provide such disclosures.
Disclosure of accounting policies for financial instruments
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Derecognition of a financial asset
Only derecognition of a financial assets when either
An entity shall derecognise a financial asset only when either:
- the contractual rights to the cash flows from the financial asset expire or are settled;
- the entity transfers to another party substantially all of the risks and rewards of ownership of the financial asset; or
- the entity, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer—in this case, the entity shall:
- derecognise the asset; and
- recognise separately any rights and obligations retained or created in the transfer.
...continue reading "Basic Financial Instruments 4"