




版權(quán)說(shuō)明:本文檔由用戶提供并上傳,收益歸屬內(nèi)容提供方,若內(nèi)容存在侵權(quán),請(qǐng)進(jìn)行舉報(bào)或認(rèn)領(lǐng)
文檔簡(jiǎn)介
Afinancialinstrumentis‘a(chǎn)nycontractthatgivesrisetoafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity’(IAS32,para11)AfinancialassetisanyassetthatanequityinstrumentofanotheracontractualrighttoreceivecashoranotherfinancialassetfromanotherentityacontractualrighttoexchangefinancialinstrumentswithanotherentityunderconditionsthatarepotentiallyfavorabletotheentityAfinancialliabilityisanyliabilitythatiscontractualobligationtodelivercashoranotherfinancialassettoanotherentitycontractualobligationtoexchangefinancialinstrumentswithanotherentityunderconditionsthatarepotentiallyanon-derivativecontractforwhichtheentityisormaybeobligedtodeliveravariablenumberoftheentity'sownequityinstruments.(IAS32,para11)Anequityinstrumentis‘a(chǎn)nycontractthatevidencesaresidualinterestintheassetsofanentityafterdeductingallofitsliabilities'(IAS33,IAS32FinancialInstruments:PresentationdealswiththeclassificationoffinancialinstrumentsandtheirfinancialstatementpresentationIFRS7FinancialInstruments:DiscoursesdealswiththedisclosureoffinancialinstrumentsinfinancialstatementsIFRS9FinancialInstrumentsisconcernedwiththeinitialandsubsequentmeasurementoffinancialinstrumentsIAS32clarifiesthataninstrumentisonlyaninthedefinitionofafinancialliabilityareIAS32doesnotclassifyafinancialinstrumentasequityorfinancialliabilityonthebasisofitslegalformbutonthesubstanceofthetransaction.4millionpreferencesharesfor$2.50each.Theyarenotmandatorilyredeemable.Adividendispayableif,andonlyif,dividendsarepaidonordinaryshares.Afinancialliabilityexistsifthereisanobligationtodelivercashoranotherfinancialasset.ThereisnoobligationforXtorepaytheinstrument.Dividendsareonlypayableiftheyarealsopaidonordinaryshares.Thereisnoobligationtopaydividendsonordinarysharessothereisnoobligationtopaydividendsonthesepreferenceshares.Theinstrumentisnotafinancialliability.Theproceedsfrompreferenceshareissueshouldthereforebeclassifiedasequityinthestatementoffinancialposition.Xissued1millionpreferencesharesfor$3each.Nodividendsarepayable.Xwillredeemthepreferencesharesinthreeyears’timebyissuingordinarysharesworth$3million.TheexactnumberofordinarysharesissuablewillbebasedontheirfairvalueontheXwillredeemthepreferencesharewithavariablenumberofordinarysharesworth$3million.Therefore,thepreferenceshareshouldbeclassifiedasliabilityinthestatementfinancialposition.2millionpreferencesharesfor$2.80each.Nodividendsarepayable.Thepreferenceshareswillberedeemedintwoyears’timebyissuing3millionordinarysharesXwillredeemthepreferencesharewithafixednumberofordinaryshares.Therefore,thepreferenceshareshouldbeclassifiedasequityinthestatementfinancialposition.DividendspaidinrespectofpreferencesharesclassifiedasaliabilitywillbechargedasafinanceexpensethroughprofitorlossDividendspaidonsharesclassifiedasequitywillbereportedinthestatementofchangesinequityIAS32statesthatafinancialassetandafinancialliabilitymayonlybeoffsetinverylimitedcircumstances.Thenetamountmayonlybereportedwhentheentityhasalegallyenforceablerighttosetofftheintendseithertosettleonanetbasis,ortorealisetheassetandsettletheliabilitysimultaneously"(IAS32,para42)InitialrecognitionoffinancialAtinitialrecognition,financialliabilitiesaremeasuredatfairIfthefinancialliabilitywillbeheldatfairvaluethroughprofitorloss,transactioncostsshouldbeexpensedtothestatementofprofitorlossIfthefinancialliabilitywillnotbeheldatfairvaluethroughprofitorloss,transactioncostsshouldbedeductedfromitscarryingamountSubsequentmeasurementoffinancialThesubsequenttreatmentofafinancialliabilityisthattheycanbemeasuredateither:amortisedfairvaluethroughprofitorTheinitialcarryingamountofafinancialliabilitymeasuredatamortisedcostisitsfairvaluelessanytransactioncosts(the‘netproceeds’fromissue).Afinancecostischargedontheliabilityusingtheeffectiverateofinterest.ThiswillincreasethecarryingamountoftheliabilityDrFinancecost(P/L)CrLiabilityTheliabilityisreducedbyanycashpaymentsmadeduringtheyearDrLiabilityCrOn1January20X1Xissuedaloannotewitha$50,000nominalvalue.Itwasissuedatadiscountof16%ofnominalvalue.Thecostsofissuewere$2,000.Interestof5%ofthenominalvalueispayableannuallyinarrears.Thebondmustberedeemedon1January20X6(after5years)atapremiumof$4,611.Theeffectiverateofinterestis12%perHowwillthisbereportedinthefinancialstatementsofXovertheperiodtoredemption?TheliabilitywillbeinitiallyrecognisedatthenetproceedsfaceLess:16%Less:IssueInitialrecognitionofTheliabilityisthenmeasuredatamortisedFinancecost(LiabilityxClosing12345 TO:Profitor To:Statementof
OutofthemoneyderivativesandliabilitiesheldforaremeasuredatfairvaluethroughprofitorOn1January20X1,Xissuedafinancialliabilityfornominalvalueof$10million.Interestispayableatarateof5%inarrears.Theliabilityisrepayableon31December20X3.Xtradesfinancialliabilitiesintheshort-term.At31December20X1,marketratesofinteresthaverisento10%Discusstheaccountingtreatmentoftheliabilityat31December20X1Thefinancialliabilityistradedintheshort-termandsoismeasuredatfairvaluethroughprofitorloss.TheliabilitymustberemeasuredtofairvalueatthereportingdateAssumingthatthefairvalueoftheliabilitycannotbeobservedfromanactivemarket,itcanbecalculatedbydiscountingthefuturecashflowsatamarketrateofinterestCashDiscountTheinterestpaymentsare$10mx5%=$0.Thefairvalueoftheliabilityattheyear-endis$9.13millionThefollowingadjustmentisrequiredDrLiability($10m-$9.13m) $0.87mCrProfitor $PilotpaperQ1IssueofconvertibleOn1October20X5,Hillissuedaconvertiblebondatparvalueof$20millionandhasrecordedPilotpaperQ1IssueofconvertibleBondholderscaninsteadoptforconversionintheformofafixednumberofshares.Interestonthebondispayableatarateof4%ayearinarrears.Theinterestpaidintheyearhasbeenpresentedinfinancecosts.Theinterestrateonsimilardebtwithoutaconversionoptionis10%.Discount Discountrate Discountrate109620909209250826Discuss,withsuitablecalculations,howtheconvertiblebondshouldbedealtwithintheconsolidatedfinancialstatementsfortheyearended30September20X6,showinganyadjustmentsrequired.(6marks)Answer(iii)-ConvertibleHillhasissuedacompoundinstrumentbecausethebondhascharacteristicsofbothafinancialliability(anobligationtorepaycash)andequity(anobligationtoissueafixednumberofHill’sownIAS32FinancialInstruments:Presentationspecifiesthatcompoundinstrumentsmustbesplitinto:aliabilitycomponent(theobligationtorepayanequitycomponent(theobligationtoissueafixednumberofThesplitoftheliabilitycomponentandtheequitycomponentattheissuedateiscalculatedasfollows:theliabilitycomponentisthepresentvalueofthecashrepayments,discountedusingthemarketrateonnon-convertiblebonds;theequitycomponentisthedifferencebetweenthecashreceivedandtheliabilitycomponentattheissuedate.$179million,calculatedasfollows:CashDiscountPresent30September090907330September208082617181791Theequitycomponentshouldhavebeeninitiallymeasuredat$21million($20m–$179m).TheadjustmentrequiredDrNon-currentliabilities $21mCrEquity $21mTheequitycomponentremainsunchanged.Afterinitialrecognition,theliabilityismeasuredatamortisedcost,asfollows:1OctoberFinancechargeCash30September179(08)189Thefinancecostrecordedfortheyearwas$08millionandsomustbe$10($18m$08m).DrFinancecosts $10mCrNon-current $10m$1892019/122019/12On1October20X8,theCEOandfinancedirectoreachpaid$2mcashinexchangeforpreferencesharesfromStentCowhichprovidecumulativedividendsof7%perannum.Thesepreferencesharescaneitherbeconvertedintoafixednumberofordinarysharesintwoyears’time,orredeemedatparonthesamedate,atthechoiceoftheholder.Thefinancedirectorsuggeststotheaccountantthatthepreferencesharesshouldbeclassifiedasequitybecausetheconversionisintoafixednumberofordinarysharesonafixeddate(‘fixedforfixed’)andconversioniscertain(giventhecurrentmarketvalueoftheordinaryshares).IAS32definesanequityinstrumentasanycontractwhichevidencesaresidualinterestintheassetsofanentityafterdeductingallofitsliabilities.Anequityinstrumenthasnocontractualobligationtodelivercashoranotherfinancialasset,ortoexchangefinancialassetsorfinancialliabilitiesunderpotentiallyunfavourableconditions.Ifsettledbytheissuer’sownequityinstruments,anequityinstrumenthasnocontractualobligationtodeliveravariablenumber,orissettledonlybyexchangingafixedamountofcashoranotherfinancialassetforafixednumberofitsownequityPreferenceshareswhicharerequiredtobeconvertedintoafixednumberofordinarysharesonafixeddateshouldbeclassifiedasequity(thisisknownasthe‘fixedforfixed’requirementtowhichthefinancedirectorHowever,acriticalfeatureindifferentiatingafinancialliabilityfromanequityinstrumentistheexistenceofacontractualobligationoftheissuereithertodelivercashoranotherfinancialassettotheholder,ortoexchangefinancialassetsorfinancialliabilitieswiththeholder,underconditionswhicharepotentiallyunfavourabletotheissuer.Inthiscase,StentCohasissuedconvertibleredeemablepreferenceshares–whichmakeslittlecommercialsensefromthecompany’sperspective,astheyoffertheholderthebenefitofconversionintoordinarysharesifsharepricesrise,andthesecurityofredemption(atthechoiceoftheholder)ifsharepricesfall.IAS32notesthatthesubstanceofafinancialinstrument,ratherthanitslegalform,governsitsclassificationintheentity’sstatementoffinancialposition.Apreferencesharewhichprovidesformandatoryredemptionforafixedordeterminableamountatafixedordeterminablefuturedateorgivestheholdertherighttorequiretheissuertoredeemtheinstrumentataparticulardateforafixedordeterminableamountisafinancialliability.Becausethepreferencesharesoffertheholderthechoiceofconversionintoordinarysharesaswellasredemptionintwoyears’time,thetermsofthefinancialinstrumentshouldbeevaluatedtodeterminewhetheritcontainsbothaliabilityandanequitySuchcomponentsareclassifiedseparatelyascompoundfinancialinstruments,recognisingseparatelythecomponentsofafinancialinstrumentwhichcreatesbothafinancialliabilityoftheentity(acontractualarrangementtodelivercashoranotherfinancialasset)andanequityinstrument(acalloptiongrantingtheholdertheright,foraspecifiedperiodoftime,toconvertitintoafixednumberofordinarysharesoftheentity).InaccordancewithIFRS9FinancialInstruments,whentheinitialcarryingamountofacompoundfinancialinstrumentisallocatedtoitsequityandliabilitycomponents,theequitycomponentisassignedtheresidualamountafterdeductingfromthefairvalueoftheinstrumentasawholetheamountseparatelydeterminedfortheliabilitycomponent.StentCowouldmeasurethefairvalueoftheconsiderationinrespectoftheliabilitycomponentbasedonthefairvalueofasimilarliabilitywithoutanyassociatedequityconversionoption.Theequitycomponentisassignedtheresidualamount.woulddecreaseifthedraftfinancialstatementsincreasenon-currentdebt(thepresentvalueofthefutureobligations)anddecreaseequity.【MJ:整個(gè)題目,重要】includedthepreferencesharesincreasenon-currentdebt(thepresentvalueofthefutureobligations)anddecreaseequity.【MJ:整個(gè)題目,重要】Derivative.Aderivativehasthreeitsvaluechangesinresponsetoanunderlying(e.g.sharepriceorinterestitrequireslittleornoinitialnetitissettledatafutureEg:Forwardcontract,future,On1November20X1Johnsontookoutaspeculativeforwardcontracttobuycoffeebeansfordeliveryon30April20X2atanagreedpriceof$6,000intendingtosettlenetincash.Duetoasurgeinexpectedsupply,aforwardcontractfordeliveryon30April20X2wouldhavecost$5,000on31December20X1.Discuss,withsuitablecalculations,howtheabovefinancialinstrumentsshouldbeaccountedforinthefinancialstatementsofJohnsonfortheyearended31December20X1.IFRS9appliestothosecontractstobuyorsellanon-financiaitemthatcanbesettlednetincashoranotherfinancialinstrument,orbyexchangingfinancialinstrumentsasifthecontractswefinancialinstruments(IFRS9:para.2.4).TheseareThefairvalueofaforwardcontractatinceptionisThefairvalueofthecontractattheyearend$Marketpriceofforwardcontract-yearendfordeliveryon30Johnson'sforwardAfinancialliabilityof$1,000isthereforerecognisedwithacorrespondingchargeof$1,000toprofitorloss.InitialrecognitionoffinancialInitialrecognitionoffinancialIFRS9saysthatanentityshouldrecogniseafinancialasset'when,andonlywhen,theentitybecomespartytothecontractualprovisionsoftheinstrument'(IFRS9,para3.1.1)IFRS9appliestothosecontractstobuyorsellanon-financiaitemthatcanbesettlednetincashoranotherfinancialinstrument,orbyexchangingfinancialinstrumentsasifthecontractswefinancialinstruments(IFRS9:para.2.4).TheseareconsideredfinancialcontractsHowever,contractsthatwereenteredinto(andcontinuetobeheld)fortheentity'sexpectePurchase,saleorusagerequirementsofnon-financialitemsareoutsidethescopeofIFRS9.Theseareexecutorycontracts.Executorycontractsarecontractsunderwhichneitherpartyhasperformedanyofitsobligationsorbothpartieshavepartiallyperformedtheirobligationstoanequalextent)(IAS37:para.3).Executorycontractsarenotinitiallyrecognisedinthestatementsunlesstheyareonerous,inwhichcaseaprovisionisGustosoisapubliclimitedcompanywhichproducesarangeofluxuryItalianfoodproductswhicharesoldtorestaurants,shopsandsupermarkets.WheatGustosopurchasessignificantquantitiesofwheatforuseinitsbreadandpastaproducts.Thesearehigh-valueproductsonwhichGustosorecordssignificantNovember20X7,Gustosoenteredintoacontractwithasuppliertopurchasesettlednetincash.Gustosohasenteredintosimilarcontractsinthepastandhasalwaystakendeliveryofthewheat.By31December20X7thepriceof$05$05statementofprofitorloss.WheatpricesmayriseagainbeforeJune20X8.Theaccountantisunsureifthecurrentaccountingtreatmentiscorrectbutfeelsuncomfortableapproachingthefinancedirectoragain.IFRS9FinancialInstrumentsappliestocontractstobuyorsellanon-financialitemwhicharesettlednetincash.Suchcontractsareusuallyaccountedforasderivatives.However,contractswhichareforanentity’s‘ownuse’ofanon-financialassetareexemptfromtherequirementsofIFRS9.Thecontractwillqualifyas‘ownuse’becauseGustosoalwaystakesdeliveryofthewheat.ThismeansthatitfallsoutsideIFRS9andsotherecognitionofaderivativeisincorrect.Thecontractisanexecutorycontract.Executorycontractsarenotinitiallyrecognisedinthefinancialstatementsunlesstheyareonerous,inwhichcaseaprovisionisrequired.Thisparticularcontractisunlikelytobeonerousbecausewheatpricesmayriseagain.Moreover,thefinishedgoodswhichthewheatformsapartofwillbesoldataprofit.Assuch,noprovisionisrequired.ThecontractwillthereforeremainunrecogniseduntilGustosotakesdeliveryofthewheat.Thederivativeliabilityshouldbederecognised,meaningthatprofitswillincreaseby$05million.PilotpaperSubsequentacquisitionof20%ofWhenKutchenacquiredthemajority,80%,shareholdinginMach,therewasanoptionontheremaining20%non-controllinginterest(NCI),whichcouldbeexercisedatanytimeupto31March20X7.On31JanuaryPilotpaperSubsequentacquisitionof20%ofThecontingentpaymentsweretobebasedonthefutureprofitsofMachuptoamaximumamount.Kutchenfeltthatthefixedinitialpaymentwasanequitytransaction.Additionally,Kutchenwasunsureastowhetherthecontingentpaymentswereeitherequity,financialliabilitiesorcontingentliabilities.Afteraboarddiscussionwhichcontaineddisagreementastotheaccountingtreatment,KutchenispreparingtodisclosethecontingentpaymentsinaccordancewithIAS?37Provisions,ContingentLiabilitiesandContingentAssets.Thedisclosurewillincludetheestimatedtimingofthepaymentsandthedirectors’estimateoftheamountstobesettled.Requirement:AdviseKutchenonthedifferencebetweenequityandliabilities,andontheproposedaccountingtreatmentofthecontingentpaymentsonthesubsequentacquisitionof20%ofMach.(8marks)TheFrameworkdefinesaliabilityasapresentobligation,arisingfrompasteventsandthereisanexpectedoutflowofeconomicbenefits.IAS32FinancialInstruments:PresentationestablishesprinciplesforpresentingfinancialinstrumentsasliabilitiesorIAS32doesnotclassifyafinancialinstrumentasequityorfinancialliabilityonthebasisofitslegalformbutonthesubstanceoftheThekeyfeatureofafinancialliabilityisthattheissuerisobligedtodelivereithercashoranotherfinancialassettotheholder.Anobligationmayarisefromarequirementtorepayprincipalorinterestordividends.Incontrast,equityhasaresidualinterestintheentity’sassetsafterdeductingallofitsliabilities.Anequityinstrumentincludesnoobligationtodelivercashoranotherfinancialassettoanotherentity.AcontractwhichwillbesettledbytheentityreceivingordeliveringafixednumberofitsownequityinstrumentsinexchangeforafixedamountofcashoranotherfinancialassetisanequityHowever,ifthereisanyvariabilityintheamountofcashorownequityinstrumentswhichwillbedeliveredorreceived,thensuchacontractisafinancialassetorliabilityasapplicable.Thecontingentpaymentsshouldnotbetreatedascontingentliabilitiesbuttheyshouldberecognisedasfinancialliabilitiesandmeasuredatfairvalueatinitialrecognition.【MJ:financialcontract】IAS37Provisions,ContingentLiabilitiesandContingentAssetsexcludesfromitsscopecontractswhichareexecutoryinnature,andthereforepreventstherecognitionofaliability.Additionally,thereisnoonerouscontractinthisscenario.Contingentconsiderationforabusinessmustberecognisedatthetimeofacquisition,inaccordancewithIFRS3BusinessCombinations.However,IFRSdonotcontainanyguidancewhenaccountingforcontingentconsiderationfortheacquisitionofaNCIinasubsidiary.ThecontractforcontingentpaymentsdoesmeetthedefinitionofafinancialliabilityunderIAS32.KutchenhasanobligationtopaycashtothevendoroftheNCIunderthetermsofacontract.ItisnotwithinKutchen’scontroltobeabletoavoidthatobligation.TheamountofthecontingentpaymentsdependsontheprofitabilityofMach,whichitselfdependsonanumberoffactorswhichareuncontrollable.【MJ:Q3惡心難度——可放棄】IAS32statesthatacontingentobligationtopaycashwhichisoutsidethecontrolofbothpartiestoacontractmeetsthedefinitionofafinancialliabilitywhichshallbeinitiallymeasuredatfairSincethecontingentpaymentsrelatetotheacquisitionofthetheoffsettingentrywouldberecogniseddirectlyin Financialassets: –whenthecontractualrightstothecashflowsexpire(e.g.becauseacustomerhaspaidtheirdebtoranoptionhasexpiredworthless);or–thefinancialassetistransferred(e.g.sold),basedonwhethertheentityhastransferredsubstantiallyalltherisksandrewardsofownershipofthefinancialasset.Financialliabilities:–whentheobligationisdischarged(e.g.paidoff),cancelledorexpires.Whereapartofafinancialinstrument(orgroupofsimilarfinancialinstruments)meetsthecriteriaabove,thatpartisderecognised.TheacquisitionofOn1July20X5,Bananaacquired$10million5%bondsatparwithinterestbeingdueat30Juneeachyear.Thebondsarerepayableatasubstantialpremiumsothattheeffectiverateofinterestwas7%.Bananaintendedtoholdthebondstocollectthecontractualcashflowsarisingfromthebondsandmeasuredthematamortisedcost.On1July20X6,Bananasoldthebondstoathirdpartyfor$8million.Thefairvalueofthebondswas$10.5millionatthatdate.Bananahastherighttorepurchasethebondson1July20X8for$8.8millionanditislikelythatthisoptionwillbeexercised.ThethirdpartyisobligedtoreturnthecouponinteresttoBananaandtopayadditionalcashtoBananashouldbondvaluesrise.Bananawillalsocompensatethethirdpartyforanydevaluationofthebonds.DiscusshowthederecognitionrequirementsofIFRS9FinancialInstrumentsshouldbeappliedtothesaleofthebondincludingcalculationstoshowtheimpactontheconsolidatedfinancialstatementsfortheyearended30June20X7.(7IFRS9FinancialInstrumentsrequiresthatafnancialassetonlyqualifesforderecognitiononcetheentityhastransferredthecontractualrightstoreceivethecash?owsfromtheassetorwheretheentityhasretainedthecontractualrightsbuthasanunavoidableobligationtopassonthecash?owstoathirdparty.Thesubstanceofthedisposalofthebondsneedstobeassessedbyaconsiderationoftherisksandrewardsofownership.Bananahasnottransferredthecontractualrightstoreceivethecash?owsfromthebonds.ThethirdpartyisobligedtoreturnthecouponinteresttoBananaandtopayadditionalamountsshouldthefairvaluesofthebondsincrease.Consequently,Bananastillhastherightsassociatedwiththeinterestandwillalsobeneftfromanyappreciationinthevalueofthebonds.Bananastillretainstherisksofownershipasithastocompensatethethirdpartyshouldthefairvalueofthebondsdepreciateinvalue.Itwouldbeexpectedthat,ifthesalewereagenuinetransferofrisksandrewardsofownership,thenthesalespricewouldbeapproximatetothefairvalueofthebonds.ItwouldonlybeinunusualcircumstancessuchasaforcedsaleofBanana’sassetsarisingfromseverefnancialdiffcultiesthatthiswouldnotbethecase.Thesalespriceof$8millioniswellbelowthefairvalueofthebondsof$105million.Additionally,BananaItcanbeconcludedthatnotransferofrightshastakenplaceandthereforetheassetshouldnotbederecognised.Tomeasuretheassetatamortisedcost,theentitymusthaveabusinessmodelwheretheyintendtocollectthecontractualcash?owsoverthelifeoftheasset.Bananamaintainstheserightsandthereforethesaledoesnotcontradicttheirbusinessmodel.ThebondsshouldcontinuetobemeasuredatamortisedcostintheconsolidatedfnancialstatementsofBanana.Thevalueofthebondsat30June20X6wouldhavebeen$102million($10million+7%x$10million–5%x$10million).Amortisedcostprohibitsarestatementtofairvalue.$10414million($102million+7%x$102million–5%x$10Theproceedsof$8millionshouldbetreatedasafnancialliabilityandwouldalsobemeasuredatamortisedcost.Aninterestchargeof$08millionwouldaccruebetween1July20X6and1July20X8,beingthedifferencebetweenthesaleandrepurchasepriceofthebonds.MeasurementoffinancialAccountingforinvestmentsinequityInvestmentsinequityinstruments(suchasaninvestmentintheordinarysharesofanotherentity)aremeasuredateither:fairvaluethroughothercomprehensivefairvaluethroughprofitorFairvaluethroughprofitorThenormalexpectationisthatequityinstrumentswillhavethedesignationoffairvaluethroughprofitorlossFairvaluethroughothercomprehensiveItispossibletodesignateanequityinstrumentasfairvaluethroughothercomprehensiveincome,providedthatthefollowingconditionsarecompliedwiththeequityinstrumentmustnotbeheldfortrading,theremusthavebeenanirrevocablechoiceforthisdesignationuponinitialrecognitionoftheassetFairFairvaluethroughprofitorInvestmentsinequityinstrumentsthatareclassifiedasfairvaluethroughprofitorlossareinitiallyrecognisedatfairvalue.TransactioncostsareexpensedtoprofitorAtthereportingdate,theassetisrevaluedtofairvaluewiththegainorlossrecordedinthestatementofprofitorloss.FairvaluethroughothercomprehensiveInvestmentsinequityinstrumentsFairvaluethroughothercomprehensiveAtthereportingdate,theassetisrevaluedtofairvaluewiththegainorlossrecordedinothercomprehensiveincome.ThisgainorlosswillnotbereclassifiedtoprofitorlossinfutureDividendsarerecognisedinprofitorlossunlesstheyclearlyrepresentarecoveryofpartofthecostofaninvestmentExEx-2019/12Q3aDigiwireCohasdevelopedanewbusinessmodelwherebyitsellsmusiclicencestoothercompanieswhichthendeliverdigitalmusictoconsumers.DigiwireCohasagreedtosellClamusicCo,anunlistedtechnologystart-upcompany,athree-yearlicencetosellDigiwireCo’scatalogueofclassicalmusictothepublic.Asrevenueforthethree-yearlicence,ClamusicCohasissuedsharestoDigiwireCoequivalenttoa7%shareholding.Votingrightsareattachedtotheseshares.DigiwireCoreceivedthesharesinClamusicCoon1JanuaryOn1January20X6,ClamusicCowasvaluedatbetween$4.5millionbyaprofessionalvaluerwhousedamarketbasedapproach.At31December20X6,afurthersharevaluationreporthadbeenproducedbythesameprofessionalvaluerwhichindicatedthatClamusicCowasvaluedintheregionof$6.5million.AdvisethedirectorsofDigiwireCoontherecognitionandmeasurementofthe:ClamusicCosharesreceivedasrevenueforthesaleofthethree-yearlicenceandhowtheyshouldbeaccountedforinthefinancialstatementsfortheyearended31December20X6;andInthiscase,themarketapproachhasbeenusedandtherangeoffairvaluesissignificantbasedupontheprofessionalvaluationreport.Therangeoffairvaluesfora7%holdingofshareswould$315,000(7%of$4.5million)atthedateofthecontract$455,000(7%of$6.5million)attheyearDigiwireCowouldthereforerecogniserevenueof$315,000forthereceiptofsharesfromClamusicCo,asthefairvalueofnon-cashconsiderationismeasuredatthecontractinceptiondateof1JanuaryClamusicCosharevaluationat31DecemberTheshareswillberecognisedat$455,000at31December20X6.AllequityinvestmentsinscopeofIFRS9FinancialInstrumentsshouldbemeasuredatfairvalueinthestatementoffinancialposition,withvaluechangesbeingrecognisedinprofitorloss.Ifanequityinvestmentisnotheldfortrading,anentitycanmakeanirrevocableelectionatinitialrecognitiontomeasureitatfairvaluethroughothercomprehensiveincome(FVTOCI)withonlydividendincomerecognisedinprofitorloss.IfDigiwireCoelectstopresenttheremeasurementsthroughothercomprehensiveincome(OCI),gainsareneverrecycledthroughprofitorloss.Thismeansthat,iftheinvestmentinClamusicCoissuccessful,whentheinvestmentissold,therewillbenoprofitorlosseffectsinceallgainswillalreadyhavebeenrecognisedinOCI.Thusattheyearend,againof$140,000($455,000–$315,000)willberecordedinprofitlossorOCIdependentuponanyelectionbeingFinancialassetsthataredebtinstrumentscanbemeasuredatinoneofthreeways:AmortisedfairvaluethroughothercomprehensivefairvaluethroughprofitorIFRS9saysthataninvestmentinadebtinstrumentismeasuredatamortisedcostif:Theentity'sbusinessmodelistocollecttheassetscontractualcashflows.Thismeansthattheentitydoesnotplanonsellingtheass
溫馨提示
- 1. 本站所有資源如無(wú)特殊說(shuō)明,都需要本地電腦安裝OFFICE2007和PDF閱讀器。圖紙軟件為CAD,CAXA,PROE,UG,SolidWorks等.壓縮文件請(qǐng)下載最新的WinRAR軟件解壓。
- 2. 本站的文檔不包含任何第三方提供的附件圖紙等,如果需要附件,請(qǐng)聯(lián)系上傳者。文件的所有權(quán)益歸上傳用戶所有。
- 3. 本站RAR壓縮包中若帶圖紙,網(wǎng)頁(yè)內(nèi)容里面會(huì)有圖紙預(yù)覽,若沒(méi)有圖紙預(yù)覽就沒(méi)有圖紙。
- 4. 未經(jīng)權(quán)益所有人同意不得將文件中的內(nèi)容挪作商業(yè)或盈利用途。
- 5. 人人文庫(kù)網(wǎng)僅提供信息存儲(chǔ)空間,僅對(duì)用戶上傳內(nèi)容的表現(xiàn)方式做保護(hù)處理,對(duì)用戶上傳分享的文檔內(nèi)容本身不做任何修改或編輯,并不能對(duì)任何下載內(nèi)容負(fù)責(zé)。
- 6. 下載文件中如有侵權(quán)或不適當(dāng)內(nèi)容,請(qǐng)與我們聯(lián)系,我們立即糾正。
- 7. 本站不保證下載資源的準(zhǔn)確性、安全性和完整性, 同時(shí)也不承擔(dān)用戶因使用這些下載資源對(duì)自己和他人造成任何形式的傷害或損失。
最新文檔
- 2017秋冀教版七年級(jí)生物上冊(cè)第一單元第四章同步教學(xué)設(shè)計(jì):1.4.8鳥(niǎo)類
- 機(jī)電商品學(xué)課件
- 2025年1月份認(rèn)知負(fù)荷理論優(yōu)化《阿房宮賦》分層教學(xué)設(shè)計(jì)
- 漁業(yè)消費(fèi)者教育與健康價(jià)值傳播考核試卷
- 海水養(yǎng)殖產(chǎn)業(yè)可持續(xù)發(fā)展評(píng)價(jià)指標(biāo)考核試卷
- 火箭發(fā)射與航天器測(cè)控技術(shù)考核試卷
- 印刷企業(yè)市場(chǎng)競(jìng)爭(zhēng)力分析模型構(gòu)建與應(yīng)用實(shí)踐考核試卷
- 智能化公共設(shè)施的建設(shè)和維護(hù)考核試卷
- 醫(yī)學(xué)資料 全科醫(yī)生照顧患者心理問(wèn)題的核心能力及角色學(xué)習(xí)課件
- 語(yǔ)言藝術(shù)的表現(xiàn)在漢語(yǔ)言文學(xué)中的運(yùn)用考試試題及答案
- 2023年上海市普通高中學(xué)業(yè)水平合格性考試地理試題及答案
- 超星爾雅學(xué)習(xí)通《工程倫理》章節(jié)測(cè)試答案
- 人工智能通識(shí) 課件 04 駕馭AIGC提示詞工程(Prompt)
- DB3301-T 65.11-2024 反恐怖防范系統(tǒng)管理規(guī)范 第11部分:醫(yī)院
- T-CPQS C010-2024 鑒賞收藏用潮流玩偶及類似用途產(chǎn)品
- NB/T 11448-2023礦用乳化液配比裝置
- 選煤廠安全規(guī)程-編輯說(shuō)明
- 房地產(chǎn)中介服務(wù)質(zhì)量調(diào)研報(bào)告
- 物聯(lián)網(wǎng)系統(tǒng)安裝與調(diào)試活頁(yè)式教程中職全套教學(xué)課件
- 2023年復(fù)合型膠粘劑項(xiàng)目安全評(píng)價(jià)報(bào)告
- DZ∕T 0215-2020 礦產(chǎn)地質(zhì)勘查規(guī)范 煤(正式版)
評(píng)論
0/150
提交評(píng)論