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  • SIC-11 — Foreign Exchange - Capitalisation of Losses Resulting from Severe Currency Devaluations
    of Items SIC 15 Operating Leases Incentives SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 11 Foreign Exchange Capitalisation of Losses Resulting from Severe Currency Devaluations Quick Article Links References IAS 21 The Effects of Changes in Foreign Exchange Rates History Issued July 1998 Effective date 1 August 1998 Superseded by IAS 21 The Effects of Changes in Foreign Exchange Rates Revised 2003 effective for annual periods beginning on or after 1 January 2005 Summary of SIC 11 The allowed alternative treatment in IAS 21 21 requires several conditions to be met cumulatively before an enterprise can include exchange losses on foreign currency liabilities in the carrying amount of related assets The issue is how the conditions of IAS

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-11 (2016-02-10)
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  • SIC-12 — Consolidation – Special Purpose Entities
    Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 12 Consolidation Special Purpose Entities Quick Article Links References IAS 27 Consolidated and Separate Financial Statements History Issued November 1998 Effective date Annual financial periods beginning on or after 1 July 1999 Amended by IFRIC November 2004 to remove the exclusion of equity compensation plans from the scope of SIC 12 Superseded by IFRS 10 Consolidated Financial Statements and IFRS 12 Disclosure of Interests in Other Entities effective for annual periods beginning on or after 1 January 2013 Summary of SIC 12 SIC 12 addresses when a special purpose entity should be consolidated by a reporting enterprise under the consolidation principles in IAS 27 Under SIC 12 an entity must consolidate a special purpose entity SPE when in substance the entity controls the SPE The control of an SPE by an entity may be indicated if The SPE conducts its activities to meet the entity s specific needs The entity has decision making powers to obtain the majority of the benefits of the SPE s activities The entity is able to obtain the majority of the benefits of the SPE s activities through an auto pilot mechanism By having a right to the majority of the SPE s benefits the entity is exposed to the SPE s business risks The entity has the majority of residual interest in the SPE Examples of SPEs include entities set up to effect a lease a securitisation of financial assets or R D activities The concept of control used in IAS 27 requires having the ability to direct or dominate decision making accompanied by the objective of obtaining benefits from the SPE s activities Some enterprises may also need to separately evaluate the topic of derecognition of assets for example related to assets transferred to an SPE In some circumstances such a transfer of assets may result in those assets being derecognised and accounted for as a sale Even if the transfer qualifies

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-12 (2016-02-10)
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  • SIC-13 — Jointly Controlled Entities – Non-Monetary Contributions by Venturers
    Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 13 Jointly Controlled Entities Non Monetary Contributions by Venturers Quick Article Links References IAS 31 Interests In Joint Ventures History Issued November 1998 Effective date Annual financial periods beginning on or after 1 January 1999 Superseded by IFRS 11 Joint Arrangements effective for annual periods beginning on or after 1 January 2013 Summary of SIC 13 SIC 13 clarifies the circumstances in which the appropriate portion of gains or losses resulting from a contribution of a non monetary asset to a jointly controlled entity JCE in exchange for an equity interest in the JCE should be recognised by the venturer in the income statement SIC 13 indicates that under IAS 31 39 recognition of gains or losses on contributions of non monetary assets is appropriate unless a the significant risks and rewards related to the non monetary

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-13 (2016-02-10)
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  • SIC-14 — Property, Plant and Equipment – Compensation for the Impairment or Loss of Items
    Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 14 Property Plant and Equipment Compensation for the Impairment or Loss of Items Quick Article Links References IAS 16 Property Plant and Equipment History Issued November 1998 Effective date Annual financial periods beginning on or after 1 July 1999 Superseded by and incorporated into IAS 16 Property Plant and Equipment Revised 2003 effective for annual periods beginning on or after 1 January 2005 Summary of SIC 14 SIC 14 addresses how an enterprise should account for impairments or losses of items of property plant and equipment the related compensation from third parties and the subsequent restoration purchase or construction of assets SIC 14 confirms that three separate economic events are involved and that each event should be

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-14 (2016-02-10)
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  • SIC-15 — Operating Leases – Incentives
    Property Plant and Equipment Compensation for the Impairment or Loss of Items SIC 15 Operating Leases Incentives SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 15 Operating Leases Incentives Quick Article Links Note SIC 15 will be superseded by IFRS 16 Leases as of 1 January 2019 References IAS 17 Leases History Issued July 1999 Effective date Lease terms beginning on or after 1 January 1999 SIC 15 will be superseded by IFRS 16 Leases as of 1 January 2019 Summary of SIC 15 SIC 15 clarifies the recognition of incentives related to operating leases by both the lessee and lessor The Interpretation indicates that lease incentives such as rent free periods or contributions by the lessor to the

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-15 (2016-02-10)
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  • SIC-16 — Share Capital – Reacquired Own Equity Instruments (Treasury Shares)
    Currency Devaluations SIC 12 Consolidation Special Purpose Entities SIC 13 Jointly Controlled Entities Non Monetary Contributions by Venturers SIC 14 Property Plant and Equipment Compensation for the Impairment or Loss of Items SIC 15 Operating Leases Incentives SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares Quick Article Links References IAS 32 Financial Instruments Presentation History Issued January 1999 Effective date Annual financial periods beginning on or after 1 July 1999 Superseded by and incorporated into IAS 32 Financial Instruments Disclosure and Presentation Revised 2003 later renamed effective for annual periods beginning on or after 1 January 2005 Summary of SIC 16 SIC 16 clarifies the accounting for an enterprise s

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-16 (2016-02-10)
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  • SIC-17 — Equity – Costs of an Equity Transaction
    Contributions by Venturers SIC 14 Property Plant and Equipment Compensation for the Impairment or Loss of Items SIC 15 Operating Leases Incentives SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 17 Equity Costs of an Equity Transaction Quick Article Links References IAS 32 Financial Instruments Presentation History Issued January 2000 Effective date Annual financial periods beginning on or after 30 January 2000 Superseded by and incorporated into IAS 32 Financial Instruments Disclosure and Presentation Revised 2003 later renamed effective for annual periods beginning on or after 1 January 2005 Summary of SIC 17 SIC 17 states that transaction costs defined as incremental external costs directly attributable to an equity transaction should be accounted for as a deduction from equity

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-17 (2016-02-10)
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  • SIC-18 — Consistency – Alternative Methods
    SIC 11 Foreign Exchange Capitalisation of Losses Resulting from Severe Currency Devaluations SIC 12 Consolidation Special Purpose Entities SIC 13 Jointly Controlled Entities Non Monetary Contributions by Venturers SIC 14 Property Plant and Equipment Compensation for the Impairment or Loss of Items SIC 15 Operating Leases Incentives SIC 16 Share Capital Reacquired Own Equity Instruments Treasury Shares SIC 17 Equity Costs of an Equity Transaction SIC 18 Consistency Alternative Methods SIC 19 Reporting Currency Measurement and Presentation of Financial Statements Under IAS 21 and IAS 29 SIC 20 Equity Accounting Method Recognition of Losses SIC 21 Income Taxes Recovery of Revalued Non Depreciable Assets SIC 22 Business Combinations Subsequent Adjustment of Fair Values and Goodwill Initially Reported SIC 23 Property Plant and Equipment Major Inspection or Overhaul Costs SIC 24 Earnings Per Share Financial Instruments and Other Contracts that May Be Settled in Shares SIC 25 Income Taxes Changes in the Tax Status of an Enterprise or its Shareholders SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations Date of Exchange and Fair Value of Equity Instruments SIC 29 Service Concession Arrangements Disclosures SIC 30 Reporting Currency Translation from Measurement Currency to Presentation Currency SIC 31 Revenue Barter Transactions Involving Advertising Services SIC 32 Intangible Assets Web Site Costs SIC 33 Consolidation and Equity Method Potential Voting Rights and Allocation of Ownership Interests SIC Interpretations Info SIC 18 Consistency Alternative Methods Quick Article Links References IAS 1 Presentation of Financial Statements History Issued January 2000 Effective date Annual financial periods beginning on or after 1 July 2000 Superseded by IAS 8 Accounting Policies Changes in Accounting Estimates and Errors Revised 2003 effective for annual periods beginning on or after 1 January 2005 Summary of SIC 18 Under SIC 18 if more

    Original URL path: http://www.iasplus.com/en/standards/sic/sic-18 (2016-02-10)
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