Athens, February 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. IFRS 9 carries forward the concept of dealing with accounting mismatches from IAS 39 Financial Instruments, which has been withdrawn since 31/12/2017. Accounting mismatches will continue …
Clarifying the incident of “accounting mismatch” – IFRS 9 Financial Instruments Read More »
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Comprehensive example Burberry enters into a lease agreement as follows: Commencement date of the lease: 1/1/2020. Annual lease payments in arrears: GBP 100,000. Lease term: 10 …
IFRS 16, the new leases standard, Part V (final) Read More »
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. What’s the story with the right-of-use asset? The right-of-use asset reflects the minimum economic benefits expected to flow into the lessee’s entity, which has undertaken a …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. What’s the risk of misestimating the lease period? In order to calculate the lease liability, the lessee needs to consider the most likely number of years …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Which rate to use? This issue deserves some clarification. The rate implicit in the lease This is in fact the IRR, the effective rate, discounting the …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. IASB and FASB have been considering for quite some time the lack of complete information with regards to long-term, in-substance unavoidable liabilities that most entities are …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Contract costs Though the main focus of the standard is indeed revenue, issues related to contract costs are also addressed, given their nature, i.e. provided they …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. The existence of a material right The standard addresses the treatment of a sensible area of revenue recognition, related to services or goods seemingly given free of …
Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. IFRS 9, the long awaited standard for financial instruments, is applied since 1/1/2018. The purpose of this article is to assist students and practitioners into gaining an insight into …
Athens, February 2018 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. This is the second Part of the series of articles related to the financial assets’ classification/designation. You are kindly advised to read the previous Part, before …
