March 29, 2017

Finance lease:

A lease that transfers substantially all the risks and rewards incidental to ownership of the asset to the lessee. Title may or may not be transferred.

The standard provides that the substance of the agreement is to be understood. Legal form is not essenti...

March 22, 2017

The accounting for Share Based Payments is usually complicated. This, however, is relevant considering the fact that many entities have started providing compensation based on equity shares in the entity itself to the employees.

The accounting for Share Based Payments h...

March 22, 2017

Commercial substance:

Commercial substance means that the risks and cash flows associated with one asset would differ from those of other asset. Under exchange, the risks and rewards & cash flows are not going to be incurred had the exchange not happened. The timing, am...

March 20, 2017

Classification of financial assets

Under the principles of IND AS 109, a financial asset may be classified under two categories:

  1. At amortised cost:

An asset (other than equity instrument) that meets the below mentioned conditions:

  • The asset is held within a busi...

March 19, 2017

Normally, an entity would look for funding their operations. In the initial period, it is difficult to raise money through issue of shares. Hence, the usual option available to the entity is to raise money through debt. Bank loans, issue of debentures, etc are common m...

March 17, 2017

The CIMA Strategic Case study examination is the final examination before you formally can apply for the CIMA membership. The examination is essentially a practical examination expecting you to know the strategic side of the business and apply the knowledge in the give...

March 14, 2017

The key question to address the accounting treatment of any financial asset is to correctly classify the financial asset as measured at amortized cost or at fair value. The lecture below discusses the requirement of the accounting standard on Financial Instruments on w...

March 14, 2017

IND AS 109 requires an understanding of how to use amortized cost under the business model test. The Business Model test is the standard way to identify the accounting treatment for Financial Assets. The test does not require an entity to check the application of amort...

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