IFRS9 Financial Instruments及IFRS15.docx
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IFRS9 Financial Instruments及IFRS15.docx
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IFRS9FinancialInstruments及IFRS15
IFRS9FinancialInstruments
FinancialAsset–DebtInstrument(AmortizedCost)Impairment
TheimpairmentmodelinIFRS9isbasedonthepremiseofprovidingforexpectedlosses.
Step1:
The12-monthexpectedcreditlosses(expectedcreditlossesthatresultfromthosedefaulteventsonthefinancialinstrumentthatarepossiblewithin12monthsafterthereportingdate);or
Step2:
Fulllifetimeexpectedcreditlosses(expectedcreditlossesthatresultfromallpossibledefaulteventsoverthelifeofthefinancialinstrument).
Alossallowanceforfulllifetimeexpectedcreditlossesisrequiredforafinancialinstrumentifthecreditriskofthatfinancialinstrumenthas
increasedsignificantlysinceinitialrecognition,aswellastocontractassetsortradereceivablesthatdonotconstituteafinancingtransactioninaccordancewithIFRS15.
IFRS9FinancialInstruments
FinancialAsset–DebtInstrument(AmortizedCost)Impairment
TheStandardsuggeststhat‘investmentgrade’ratingmightbeanindicatorforalowcreditrisk.
Therequirementsalsocontainarebuttablepresumptionthatthecreditriskhasincreasedsignificantlywhencontractualpaymentsaremorethan30dayspastdue.ACCA-P24
IFRS9FinancialInstruments
FinancialAsset–DebtInstrument(AmortizedCost)Impairment
Transystemshasaportfolioof$40,000financialassets(debtinstruments)thathavetwoyearstomaturityandarecorrectlyaccountedforatamortizedcost.Eachassethasacouponrateof10%aswellasaneffectiveinterestrateof10%.Nopreviousimpairmentlosshasbeenrecognized.
Attheyear-endinformationhasemergedthatthesectorinwhichtheborrowersoperateisexperiencingtougheconomicconditions.
IFRS9FinancialInstruments
FinancialAsset–DebtInstrument(AmortizedCost)Impairment
Afterconsideringarangeofpossibleoutcomes,theoverallrateofreturnfromtheportfolioisexpectedtobeapproximately8%perannumforeachofthenexttwoyears.
ThedirectorofTransystembelievethatitisunnecessarytocarryoutimpairmentasthereisnoobjectiveimpairmentindicatoralthoughthecreditriskofportfoliohasincreasedsignificantlysinceinitialrecognition.ACCA-P25
IFRS9FinancialInstruments
FinancialAsset–DebtInstrument(AmortizedCost)Impairment
AsthecreditriskofTransystemportfoliohasincreasedsignificantly,alossallowanceforfulllifetimeexpectedcreditlossesisrequired.Theexpectedcreditlossis$1,388(i.e.40,000*2%*0.9091+40,000*2%*0.8264).
Thisisrecognizedastheimpairmentlossthuscreatinganexpensetobechargedtoprofitorlossandoffsetagainstthecarryingvalueofthefinancialassetonthestatementoffinancialposition.
IAS39FinancialInstruments:
RecognitionandMeasurement
HedgingAccounting
Ahedgingrelationshipqualifiesforhedgeaccountingonlyifallofthefollowingcriteriaaremet:
1.Thehedgingrelationshipconsistsonlyofeligiblehedginginstrumentsandeligiblehedgeditems;
2.Attheinceptionofthehedgingrelationshipthereisformaldesignationanddocumentationofthehedgingrelationshipandtheentity’sriskmanagementobjectiveandstrategyforundertakingthehedge;ACCA-P26
IAS39FinancialInstruments:
RecognitionandMeasurement
HedgingAccounting
3.Thehedgingrelationshipmeetsallofthehedgeeffectivenessrequirements:
(1)Thereisaneconomicrelationshipbetweenthehedgeditemandthehedginginstrument;
(2)Theeffectofcreditriskdoesnotdominatethevaluechangesthatresultfromthateconomicrelationship;and
(3)Thehedgeratioofthehedgingrelationshipisthesameasthatactuallyusedintheeconomichedge;
IAS39FinancialInstruments:
RecognitionandMeasurement
DiscontinueofHedges
Whenanentitydiscontinueshedgeaccountingforafairvaluehedge,thehedgeditemsreturntothestandardsitpreviouslybelongstosuchasIAS2inventory.
Whenanentitydiscontinueshedgeaccountingforacashflowhedge,ifthehedgedfuturecashflowsarestillexpectedtooccur,theamountthathasbeenaccumulatedinthecashflowhedgereserve(OCI)remainsthereuntilthefuturecashflowsoccur;ifthehedgedfuturecashflowsarenolongerexpectedtooccur,thatamountisimmediatelyreclassifiedtoprofitorloss.
IAS39FinancialInstruments:
RecognitionandMeasurement
HedgeofaNetInvestment
Hedgeofanetinvestmentinaforeignoperation(asdefinedinIAS21),includingahedgeofamonetaryitemthatisaccountedforaspartofthenetinvestment,isaccountedforsimilarlytocashflowhedges:
1.TheportionofthegainorlossonthehedginginstrumentthatisdeterminedtobeaneffectivehedgeisrecognizedinOCI;and
2.Theineffectiveportionisrecognizedinprofitorloss.
IAS39FinancialInstruments:
RecognitionandMeasurement
HedgeofaNetInvestment
Thecumulativegainorlossonthehedginginstrumentrelatingtotheeffectiveportionofthehedgeisreclassifiedtoprofitorlossonthedisposalorpartialdisposaloftheforeignoperation.
P2CorporateReporting
IFRS15Revenuefrom
ContractswithCustomers
ObjectiveofIFRS15
TheobjectiveofIFRS15istoestablishtheprinciplesthatanentityshallapplytoreportusefulinformationtousersoffinancialstatementsaboutthenature,amount,timing,anduncertaintyofrevenueandcashflowsarisingfromacontractwithacustomer.
RecognitionofRevenue
ThecoreprincipleofIFRS15isthatanentitywillrecognizerevenuetodepictthetransferofpromisedgoodsorservicestocustomersinanamountthatreflectstheconsiderationtowhichtheentityexpectstobeentitledinexchangeforthosegoodsorservices.Thiscoreprincipleisdeliveredinafive-stepmodelframework.
RecognitionofRevenue–FiveStepModel
Step1:
Identifythecontractwiththecustomer
AcontractwithacustomerwillbewithinthescopeofIFRS15ifallthefollowingconditionsaremet:
•Thecontracthasbeenapprovedbythepartiestothecontract;
•Eachparty’srightsinrelationtothegoodsorservicestobetransferredcanbeidentified;
•Thepaymenttermsforthegoodsorservicestobetransferredcanbeidentified;ACCA-P23
RecognitionofRevenue–FiveStepModel
Step1:
Identifythecontractwiththecustomer
AcontractwithacustomerwillbewithinthescopeofIFRS15ifallthefollowingconditionsaremet:
•Thecontracthascommercialsubstance;and
•Itisprobablethattheconsiderationtowhichtheentityisentitledtoinexchangeforthegoodsorserviceswillbecollected.
RecognitionofRevenue–FiveStepModel
Step2:
Identifytheperformanceobligationsinthecontract
Attheinceptionofthecontract,theentityshouldassessthegoodsorservicesthathavebeenpromisedtothecustomer,andidentifyasaperformanceobligation:
•agoodorservice(orbundleofgoodsorservices)thatisdistinct;or
•aseriesofdistinctgoodsorservicesthataresubstantiallythesameandthathavethesamepatternoftransfertothecustomer.
RecognitionofRevenue–FiveStepModel
Step2:
Identifytheperformanceobligationsinthecontract
Agoodorserviceisdistinctifbothofthefollowingcriteriaaremet:
•Thecustomercanbenefitfromthegoodorservicesonitsownorinconjunctionwithotherreadilyavailableresources;and
•Theentity’spromisetotransferthegoodorservicetothecustomerisseparatelyidentifiablefromotherpromisesinthecontract.
RecognitionofRevenue–FiveStepModel
Step2:
Identifytheperformanceobligationsinthecontract
Aseriesofdistinctgoodsorservicesistransferredtothecustomerinthesamepatternifbothofthefollowingcriteriaaremet:
•Eachdistinctgoodorserviceintheseriesthattheentitypromisestotransferconsecutivelytothecustomerwouldbeaperformanceobligationthatissatisfiedovertime;and
•Asinglemethodofmeasuringprogresswouldbeusedtomeasuretheentity’sprogresstowardscompletesatisfactionoftheperformanceobligationtotransfereachdistinctgoodorserviceintheseriestothecustomer.
Step3:
Determinethetransactionprice
Thetransactionpriceistheamounttowhichanentityexpectstobeentitledinexchangeforthetransferofgoodsandservices.
Whereconsiderationispaidinadvanceorinarrears,theentitywillneedtoconsiderwhetherthecontractincludesasignificantfinancingarrangementand,ifso,adjustforthetimevalueofmoney.
RecognitionofRevenue–FiveStepModel
Step4:
Allocatethetransactionpricetotheperformanceobligationsinthecontracts
Whereacontracthasmultipleperformanceobligations,anentitywillallocatethetransactionpricetotheperformanceobligationsinthecontractbyreferencetotheirrelativestandalonesellingprices.Anyoveralldiscountcomparedtotheaggregateofstandalonesellingpricesisallocatedbetweenperformanceobligationsonarelativestandalonesellingpricebasis.
RecognitionofRevenue–FiveStepModel
Step4:
Allocatethetransactionpricetotheperformanceobligationsinthecontracts
Ifastandalonesellingpriceisnotdirectlyobservable,theentitywillneedtoestimateit.IFRS15suggestsvariousmethodsthatmightbeused,including:
•Adjustedmarketassessmentapproach;
•Expectedcostplusamarginapproach;
•Residualapproach(onlypermissibleinlimitedcircumstances);
RecognitionofRevenue–FiveStepModel
Step5:
Recognizerevenuewhen(oras)theentitysatisfiesa
performanceobligation
Revenueisrecognizedascontrolispassed,eitherovertimeoratapointintime.Controlofanassetisdefinedastheabilitytodirecttheuseofandobtainsubstantiallyalloftheremainingbenefi
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- 关 键 词:
- IFRS9 Financial Instruments及IFRS15 Instruments IFRS15
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