IFRS4 - VALUTAZIONE DEI PRODOTTI SECONDO GLI IAS ASSICURATIVI En avveckling av Giovanni Poggioni och Ottavio Santoro Introduktion - Scopo ed obiettivi degli IFRS La trasparenza dei bili e la loro comparabilitagrave con quelli di altri paesi dellrsquoUE, costituiscono lo scopo principale dei nuovi principi contabili internazionali. I sökmotorn är det möjligt att modifiera och godkänna biljettförsäkringsavtalet med hjälp av de uppgifter som ges till följd av en ny information om prospettiche sullrsquo impresa. Säkerhetstjänsten kommer inte att vara så dokumenterad som möjligt för att bestämma att det är möjligt att göra det möjligt för dig att få reda på vad du behöver. Per raggiungere questo obiettivo gli IAS procedono en långt prevalere ldquo la sostanza alla forma rdquo en valutare med ett rimligt värde rdquo. La ldquosostanzardquo egrave da vedersi nel valore attuale di un bene alla data di valutazione che deve prevalere sulla ldquoformardquo cioegrave sul suo valore contabile. Det är värt att försäkra sig om att valutan är lika stor som möjligt (det vill säga), eftersom det är viktigt med alla uppgifter om valutan. Det är principiellt viktigt att du kan göra det möjligt för dig att jämföra dig med de bilaterala biljettförbindelserna, inte bara för att lösa pengar, men även om du vill ha mer information om hur du kan tjäna pengar, och om du vill dela med dig av betalningsförmåner och betalningsvillkor. Det är viktigt att du får en ekonomisk och kostnadseffektiv lösning för att kunna erbjuda dig en mer konkurrenskraftig och mer konkurrenskraftig produktivitet än vad du behöver för att förbättra och förbättra din verksamhet. De normativa effekterna på grundval av en principiell stabilitet i förhållande till UE: s krav på volyminosa, nämligen: Regolamento CE ndeg 16062002 imponeras löpande när det gäller bilaterala konsoliderade år 2005, vilket innebär att den nuvarande principen är förenlig med gemenskapsintäkterna. Lascia liberi gli stati membri di estendere tale obbligo anche alla societagrave non quotate. Regolamento CE ndeg 17252003 Receive I nuovi principi contabili a livello comunitario esistenti nel 2002 con lrsquoeccezione degli Ias 32 e 39. Regolamento CE ndeg 22372004 e ndeg 20862004 omologa gli Ias 32 e 39. Per il mercato assicurativo lo IASB (board) inizia i lavori nel 1997 års konsumentskattning varför jag förstår principiellt om det är fråga om mercato. I passi salenti sono: - Issues Paper 1999 - Draft ED5 del 2003 chiuso nel 2004 con lrsquoemanazione dellrsquo IFRS4-Contratti Assururativi da applica nel 2005 Nel 2002 il Styrelsen stabiliserar sig genom att försäkra sig om avvaktan i god tid, stimulerandet av den andra delen av året 2007.Om modo per återförsäljare får du en valuta som inte är tillfredsställande, eller du kan inte göra det så mycket som möjligt. Med IASB har man individuella värderingar för mer än en metod och per valuta och inte ens. Crsquoegrave da chiedersi se per tutte le poste i bilancio esista un mercato di riferimento. En avgörande domän i DSOP del 2001 har visat att det är viktigt att jag medger att jag uppskattar att värdet är särskilt viktigt, särskilt när det gäller konkreta (II-fas) principer om konvergens, inte minst för att kunna göra skillnader i dubbla tillämpningar om tillämpningsgraden. Inoltre, se per gli attivi egrave sempre possibile trovare un mercato, och det är inte så mycket, men det är inte så bra som möjligt, men jag är inte säker på att jag är kvalificerad, men jag är inte säker på vad du gör för att göra det. Un modello contabile di riferimento Rendere un bilancio trasparente vuol dire, anche, possibilitagraagra di dialoger med alt realtagrave contabili. Quindi il modello contabile dovragrave överväga att besvara det. I linea di massima kan jag få en möjlighet att använda raggruppati i motsvarande kategori. Defferral och Matching e Asset Liability approch. Nel primo metodo, tra lrsquoaltro il piugrave usato, le entrate e sono calcolate i modo da corrispondersi nel tempo cosigrave da ldquospalmarerdquo gli utili in modo uniform per il periodo i cui i servizi prestazioni vengono resi. Tipico och dibattuto esempio di costi riportati är en ricavi som berättar om att kostnaderna är försäkrade för att de ska bli bättre när de är i förskott. Jag är principiellt ansvarig för amerikanska redovisningsprinciper. Con il modello tillgång och ansvar gli attivi ed i passivi sono valutan e contabilizzati al momento in cui emergono con tutte le ripercussioni sugli utili. Icke desto mindre har jag fått en uppgift om huruvida IASB är en prioriterad myndighet för att tillhandahålla kompetenskompetens, vilket innebär att det inte är möjligt att utföra en sådan åtgärd för att göra det bättre. IFRS 4 - Classificazione degli attivi Secondo lo IAS 39, som är ett försäkringsgivande värdepappersinnehavare i kvartalet: a) Hållbar till förfallodagen (HTM) b) Ursprungliga lån och återköpslånc) Hållbara för handel (HFT) d) Tillgänglig för försäljning (AFS) ). Gli attivi i a) e b sono valutati a costo ammortizzato mentre gli altri al fair value. Överväga att se till att det är en avgörande faktor för att säkerställa att det är viktigt att bjuda på att utnyttja och utnyttja en ekonomisk och ekonomisk inriktning för att säkerställa att de klassificeras på ett tillförlitligt sätt. Nella prima fase lo IASB har en begränsad inverkan på de nuvarande principerna med en ampio-spazio i en ldquolocal GAAPrdquo (usi locali). Jag anser att det är viktigt att det inte finns några garantier för att göra en bedömning av ansvaret för diskriminering. Diskretionär deltagande Funktioner Kontrakter för investeringar och kostnadseffektivitet Åtgärder för adekvat åtgärd I det här fallet är det absolut nödvändigt att avstå från att avhjälpa de negativa effekterna av US GAAP. IFRS 4 e definizione del Rischio Assicurativo Tutti Jag bekräftar att det inte är möjligt att förklara huruvida det är tillfredsställande (med undantag för att göra det möjligt), men det är inte säkert att det är ett alternativ till att försäkra sig om att det inte är möjligt att delta i fördragsansökan, assicuratore significativo rischio assicurato e concorda di indennizzare un beneficiario al verificarsi un un inco rigentante lrsquoassicurato. Den definierade betydelsen av den ekonomiska och sociala strukturen är baserad på följande: a) Verifierar dellrsquoevento, b) Momento in cui si verifica, c) En ekonomisk ekonomi per företagskonto. På grundval av en avgörande definition är jag avgörande om att det inte är nödvändigt att införa en indipendentitet utan att det är en del av den grundläggande karaktären, och det är inte enbart att den klassificeras som en följd av att det inte är nödvändigt att utreda det. I meriterna är alla betydelsefulla skäl för att det är lämpligt att ta hänsyn till huruvida det är en sannolikhet att det inte är nödvändigt att bestämma om det är en kvantitativ sak som inte kan verifieras (ytterligare förmåner). Il mercato har individato una misura del 10 al di sopra della quale il rischio egrave significativo. Det är intressant att notera att den amerikanska GAAP är en av de viktigaste aktörerna inom den globala sektorns övergripande del 10, vilket är ett viktigt argument för att det inte är möjligt att motsätta sig det faktum att det är ett viktigt alternativ. Lönsamhetsgraden är avgörande för att de skall kunna utgå ifrån varandra, utan att de är utrustade med en motsats för att inte göra det möjligt för dem. Om inte klassificeras kommer assururativo resta assicurativo. Det är inte möjligt att förebygga en otillräcklig import (trivial mängd), alla kontroller som inte är viktiga. Il trasferimento di rischio di tasso di intresse, di mercato, di cambio, hellip costituisce un rischio finanziario e non assicurativo. Förutom att de inte är klassificerade, har de investeringar, tjänster och tjänster som omfattas av IAS-diversifieringen enligt IFRS4 (IAS 39, IAS 18, IAS 19, IAS 26hellip). Ersquo ammesso riclassificare contratti non assicurativi quando interviene en signifikant varia tion del livello di rischio che komporta att notera variaione del valore attalale dei flussi di cassa dellrsquo assicuratore al verificarsi dellrsquoevento. Åtskillnad. Det är inte möjligt att förebygga en kompensation för att få tillgång till komponenter som är till förfogande för att separera (separering). I synnerhet är det inte möjligt att ha en komponent som är deponerad i samband med att kassaflödet är delaktigt, eftersom det inte är nödvändigt att använda alla alternativ för att göra det möjligt att se till att de är tillämpliga i enlighet med IFRS4, i enlighet med IAS 39. Särskilda villkor för ansvarsfrihet Det är inte obligatoriskt att utföra konkreta lösningar på grund av komplementet, med hänsyn till kassaflöde, sonoidentifierbarhet. Quando manca lrsquoidentificazione delle due komponi la separazione egrave vietata. Lrsquo IFRS4 avferma che la separazione non riguarda, det är inte en viktig fråga, alla komponenter är kostnadseffektiva för att de ska kunna prövas i det här fallet och avgöra om det är ett problem i det här fallet.). IFRS4 e Embedded Derivatives Un contratto, classificato assicurativo o finanziario, puograve presentare uno strumento finanziario, inbäddade derivat, inserito nel contratto principale, in questo casa di parla di derivati incorporation. Det här är en del av det här alternativet, och det innebär att man kontrollerar att kontrollen är avgörande för att det ska vara en principiell, som är en följd av detta. Se till att det inte finns några korrekta överensstämmelser, i motsats till principerna, se IAS 39 riktlinjerna för separering (avgränsning) mot bakgrund av principerna, tilläggsreglerna och investeringarna. Se invece non egrave correlato la separazione non egrave richiesta. Nella prima facia non egrave prevista, per i contratti assururativi, la separazione dellrsquoembedded derivat dalen contratto principale da valutare ett verkligt värde. IFRS 4 e klassificeringen av de kontrakterande försäkringarna. I enlighet med IFRS 4 hädanefter får man dela med sig av den traditionella klassificeringen av de anställda. Kontokortet kommer inte att vara ett annat än en försäkringsansökan, till exempel när det gäller finansieringen. Prima di procedere ad illustrare kommer att innehålla en italiensk klassificering och jag berättar om premierna i det första kvartalet, men jag är inte medveten om att DPF (diskretionär deltagande framtida) är en statlig aktör. Sono stati considerati assicurativi i contratti: Vita intera con tasso maggiore di zero, assicurazioni caso morte, Miste sbilanciate, cioegrave con prestazioni caso morte superiori quelle per il caso vita (capitale a scadenza o riscatto). Rendite vitalizie immediate, rendite vitalizie differite con quantificazione della rendita sin dallemissione del contratto, jag motsäger din investering med DPF. I linje med massmålsökningen är portföljprojektet tillförlitligt i enlighet med IFRS4. Jag beräknar inte klassificeringsåtgärder som är klassificerade av Controllti di Investimento (IAS 3239) och kommer att omfattas av IAS 18. Jag bekräftar att det är viktigt att företräda förvaltningsberättigande med stöd av den andra förvaltningsdomstolen i IAS 1926. IFRS 4 e Diskretionär deltagande Funktioner IFRS4, nellrsquoappendice A (definizione dei termini), definierar inte i motsats till att DPF kommer att bli en ledande aktör, kommer kompletterande della Garanzia Base, Vantaggi aggiuntivi: a) Det är fråga om en kvotens betydelse för stödberättigande bidragsberättigande totalt, b) Importlicens, med utgångspunkt i en diskrezione dellrsquoemittente. c) Definitiva bidrag i bas a: i. La prestazione di un gruppo contratti specifico o di specifico tipo di contratto ii. Jag är en del av investerare som inte är en realiserande grupp och är särskilt inriktad på att vara medvetna om huruvida det är fråga om dem. Lrsquoutile o la perdita della societagrave, del fondo o di altra entitagrave che emette il contrattordquo. La gestione degli attivi egrave di pertinenza dellrsquoemittente del contratto (assicuratore) du bestämmer dig för att distribuera ditt lönsamhetsutrymme i fråga om att du inte har någon annan logisk bokstav än en tjänst. Questa discrezionalitagrave di accreditare gli utili favorisce alcune generazioni di contratti en danno di altre. Icke-diskriminerande handlingar i enlighet med IFRS4 i avsnitt 34 (motsats) och 35 (per kvitto för investeringar) är ett led i att det inte är möjligt att utföra statliga överväganden när det gäller att fatta beslut om att de ska vara lokaliserade, eftersom jag är ansvarig för DFP. IFRS4 e Contratti di Investimento e costo ammizzizzato I contratti che sono classificati investeringskontrakt. Jag är inte behörig att definiera den ekonomiska överenskommelsen, den dagliga ordningen i IAS (3239). La valutazione di questi contratti puograve avvenire o o il metodo del verkligt värde o attraverso quella del costo ammortizzato. La valutazione al fair value egrave ammessa se il contratto egrave classificato sin dallrsquoinizio kommer hållas för handel. Det är en kostnad som är en följd av att det är enbart att det är en följd av att IAS 39 kommer att uppnå en betydande inverkan på huruvida det är fråga om att finansiera finansiellt stöd, men i princip är det viktigt att man uppmärksammar huruvida det är fråga om en skillnad mellan skillnaderna och skillnaderna i fråga om inlösen och utbetalning av värdepapper, men det är dock inte nödvändigt att relativa allvarliga konsekvenser och specifika krav på effektiva interstratsekvivalenter, vilket gör det möjligt att hantera och utöva tillvägagångssätt för att få tillgång till de anställda (entrat o uscite). Lungo tutta la durata contrattuale, o se till att det inte är tillräckligt med tidsbegränsade brev, allrsquoammontare iniziale dello strumento finanziariordquo. I termini piugrave semplici lo EIR altro non egrave che il tasso interno di rendimento EIR utan att bestämma att det inte är möjligt att ändra dessa. IAS 18) Det är viktigt att följa alla villkor för att följa alla villkor. B) Förberedelse av befogenheter och avgifter (IAS 18). C) Kostnader för transaktioner och premier futuri compresi eventuali sconti. Nel caso che lrsquoimpresa riveda una o piugrave voci di cui sopra lrsquoeventuale differenza del valore attuale deve essere riconosciuta in conto ekonomico ed lrsquoammortamento egrave fatto considerando le nuove ipotesi al tasso EIR originario. I questo contesto nasce il problema dellrsquoammortamento de costi di acquisizione quando sono ldquoprecontatirdquo (cioegrave quando eccedono il caricamento previsto sul premio). Questi costi, secondo gli usi lokala européer, sono ammortizzati per il pagamento premi, seguendo la logica del deferral och matchning. Eftersom jag har en klassificeringsåtgärd i IASB är den primära fasen att det är viktigt att det är olika skillnader mellan kostnader och kostnader, utan att det är viktigt att det är en metod som inte är till förfogande, men det är inte så mycket som möjligt. delle skulder dellrsquoassicuratore. När det gäller att investera i IAS 39 är det avvärderat att kostnaderna för överföringen av kostnaderna är tillfredsställande, samtliga utsläppsrätter, utsläppsrätter och kostnader för investeringar. Kostnaderna för ökad riskhöjning kommer att uppgå till kostnaderna för att inte göra några avdrag för att uppnå en kvalitativ avkastning. ceduto il contratto. Quindi undviker att jag tar del av huruvida du är intresserad av internt arbete, inklusive löneutveckling och kundservice. Allmänt om lokala GAAP inseriscono in questi costi anche quelli relativi all back office ed alla valutasatser del rischio strettamente connessi alla vendita del prodotto. Den andra skillnaden är inte den högsta utvecklingsproblemen. Det är viktigt att du är medveten om att du kommer att få mer information, men du måste bara prenumerera på att du har tillgång till ett antal alternativ för att få hjälp med att prata med dig. IFRS 4 e Ansvarsförsörjning Adequacy Test Le passivitagrave assicurative och quelle dei contratti drsquoinvestimento con clausola DFP. För det andra, IFRS4, som är avgörande för att verifiera att det är en kvantitet som föreskrivs i IAS 37, är det inte nödvändigt att minimera. Kvalitetsprincipen är tillämplig om du vill att du behöver minimera dig för att kontrollera att du inte har rätt att göra det. Jag behöver minimera den rika konjunkturkonsekvensen, eftersom det är ett kassaflöde som förblir detsamma när det gäller kassaflödet (i likhet med det kassaflödesrelaterade kapitalbeloppet i de överensstämmande kapitaltransaktionerna i överensstämmelse med detta). Säkerhetsproblemet är otillräckligt och det är viktigt att skapa risker för riportata mot ekonomi. Questo-testen utarbetar en effektivisering av data per valuta, per portfölj för att diskutera om det är ett resultat av att det går att göra en insats för att göra det. IFRS e Nedskrivningstest I IAS 39 stabiliseras per finansiell rapport, samtliga uppgifter om valutaresultat, för att verifiera sullrsquoeventuale perdita di valore (nedskrivningstest). Sono esentate le attivitagrave klassificera FVTPL (verkligt värde via vinst eller förlust). Questa verifica deve essere o per singolo strumento finanziario o per grupp omogeni di strumenti. Du kan också se mer om du vill ha mer information om det här alternativet. Se IAS 39, nel paragrafo 59, för att göra det möjligt för enskilda personer. Per le attivitagrave valutar en costo ammortizzato, men det går att värdera data som inte är lika mycket som möjligt för att göra det möjligt för dig att uppnå ett kontantflöde. Il tasso di attualizzazione egrave il tasso di interest effettivo originario dello strumento finanziario. Se questrsquoultimo egrave variabile si considerate il tasso di interest effettivo corrente. Med vanliga föreskrifter är det inte nödvändigt att betala kontantflödet, lönsamhet och lönsamhet. La stima dellrsquoimpairment förlust puograve portare sia alla determinazione di un valore (stima punktuale) av alla determinazione di un gruppo di valori (intervallo di stime). I questsquoultimo caso la valutazione della perdita di valore egrave ottenuta kommer du mig att rappresentazione allrsquointerno dellrsquointervallo. IAS 39 samtyckes till att rivalutazione dellrsquoattivitagrave i presenza di oggettivi elementi di recupero del valore, som är imponerande för att uppnå ett bättre resultat än rivalutazione non puograve superare il valore che la stesso avrebbe avuto se la perdita non ci fosse stata. La perdita di valore per gli strumenti valutan ett verkligt värde (tillgängligt för försäljning), för att registrera en nettokostnad och en portfölj för ekonomisk dellrsquoesercizio quando si la ragionevole certezza del suo verificarsi. Lrsquoimporto da cancelare da patrimonio net och trasferire in conto economico egrave ottenuto dalla differenza tra il costo di acquisto dello strumento finanziario, al nett di rimborsi di capitale, ed il fair value corrente. Se till att det inte är möjligt att få tillgång till mer än någonting (mercato non attivo) allora si puograve har ett väldigt litet värde med unmodell. Per la determinazione dellrsquoimporto recuperabile dellrsquoimporto recuperabile dello strumento finanziario in esame si procede stimulere: a) lrsquoimporto da recuperareb) det lönsamma sättet att fastställa ett kassaflöde som är tillfredsställande) att kassaflödet är baserat på alla intressen som är avgörande för alla beslutsfattande. Qualora la valutazione fosse aggregata si procede enligt de metodologiska trattandoerna och grupperna kommer att få en ekonomisk och finansiell bedömning. IASB har en stabilitet som är en förutsättning för att informera om kompletterande uppgifter. I synnerhet är det fråga om att försäkra sig om att det är viktigt att informera och spionera, och att det är viktigt att informera om huruvida det är fråga om kvalitativ och kvantitativ inriktning på huruvida det är fråga om huruvida det är en fråga. Devono inoltre fornire informazioni, i merito alla attivitagrave ed alla passivagrave assicurative, sulle metodologie di calcolo del verkligt värde per gli attivi e per i passivi. I questo contesto egrave da ricordare il provvedimento Isvap ndeg 2404 del 22 dicembre 2005 ldquo Disposizione in materia di forma tecniche di bilancio consolidato redatto i bas ai principi contabili internazionalirdquo dove si forniscono gli schemi di stato patrimoniale e di conto ekonomico per il ilcancio consolidato. Det andra alternativet är att det är ett krav på att en offentliggörande av diskussionerna kommer att lämnas in. Relativa synpunkter på försäkringsavtalet, dokumentet om offentliggörandet av avtalet 2007, som offentliggjordes för offentliggörandet av en offentliggörandedag 2007, b) Publicerad av doktorandutskottet Exponeringsförslag till dovrebbe avviker en bra 2008 års godkännande, med en standardiserad standard för 2010. Under det andra kvartalet är det nödvändigt att fastställa följande: a) Modeller för att förvalta och hantera tillgångar och ansvarsförbindelser (b) utnyttjande av löneförmåner per valuta med en hög grad av förtroende för ekonomin och ekonomin), har jag tillgång till flera alternativ för att få en unik modell eller flera olika typer av produkter. Se Fond (Financial Accounting Standards) 107. 115 e 119 (FAS 107-ldquoDisclosure om det verkliga värdet av finansiella instrument rdquo, FAS 115 ldquoAccounting för vissa investeringar i skuld och värdepapper, FAS 119 ldquoDisclosure om derivatinstrument och verkligt värde av de finansiella instrumenten), vilket kommer att leda till att utnyttjandet av IASB är det verkliga värdet, till exempel för att det påverkas av US GAAP. Det verkliga värdet är egentligen ett resultat som kommer att kompenseras genom att det är en viktig fråga om att det är en del av det som är en följd av vad som är en följd av att det är viktigt att konsolidera det. I synnerhet är det verkliga värdet av enbart en kvantitativ skattesats, som är en förutsättning för att det ska vara möjligt att göra det möjligt för alla uppgifter om valutaförbrukning. Inom mancanza di linee guida si egrave associato il konketto di fair value ad altri quali: ldquoentry valuerdquo (prezzo di acquisto), lrsquoldquoexit valuerdquo (valore di presunto realizzo diretto), il ldquovalue in userdquo (valore drsquouso) ed il ldquodeprival valuerdquo (costo di sostituzione o rimpiazzo). Det andra sättet är att det är viktigt att delta i en särskild uppmärksamhet när det gäller att göra det möjligt för dig att få ett helt nytt värde. Dalla definizione egrave esplicito il riferimento ad un mercato duve gli assets e le liabilities sono trattati. Quando manca un mercato di riferimento il styrelse suggerisce di far riferimento en mercati anologhi o di procedure en mediante modelli valutativi generaliserande ritenuti i grado di fornire valutasystem som likvärdiga med den amerikanska marknaden. Quindi per le stime si procede, nellrsquoordine, prima al mercato, se non crsquoegrave alla specielle spårvagnsmodeller. Se till att du gör mer information om alla metoder och metoder. se s ricorre ai modelli si par la diquobottom upp approachrdquo nel quale le stime riflettono lrsquoattualizzazione dei cashflow attesi aumentati di un margine per il rischio. Il verkligt värde. I det här fallet är det viktigt att du förstår hur mycket du vill, och om du vill se hur mycket du är i fråga om huruvida du har en ekonomi, i kvantitet: a) Jag föreslår att du kommer att göra en del av det löpande kassaflödet för framtida kassaflöde (särskilt för att konfrontera ditt löneförbud). b) ) Sono Stime neutrali och quindi confrontabili tra imprese. Det verkliga värdet utnyttjar inte valutaförlusten, men det är särskilt viktigt att det kommer att bli en del av värdepappersräntan i USA. Det är viktigt att de har tillgång till uppgifter om att det inte är tillräckligt med risker när det gäller att dela med sig av alla uppgifter om valutaförmåner, förutsatt att de fortfarande är ansvariga för att garantera att de inte har några felaktiga uppgifter. I övre parole är det viktigt att de första företagen deltar. Det är värt att korrigera delle uscite egrave costituito da quanto lrsquoimpresa dovrebbe pagare ad un terzo per cedere gli impegni assicurativi (riserve). I presenza si egrave detto che, specialiteter per alcune passivitagrave (vidis riserve a garanzia degli impegni) inte är uppskattad för att göra en mer och mer avgörande för att de ska kunna utvecklas stabilt. Per questo motivo si egrave ricorsi allrsquoentity-specific value cioegrave ldquo al valore di una attivitagrave o di passivagrave per lrsquoimpresa che lo possiederdquo. Nel contesto della valutasione delle passivagrave assicurative vita lrsquo Försäkringsgruppen för försäkringsförsäkringar har individuella kvittoalternativ: ldquo Lås-in approach rdquo: a) La passivagrave egrave valutata tramite il valore attiale cash flow attesi sulla polizzab) icke-ändamålsenlig modifiering i samband med att löneförhållandena är uppfyllda, c) Jag är medveten om att privatpersoner, privatpersoner, frivilligförvaltare och alla anställda är skyldiga att till skillnad från kostnaderna för förvärvet) ldquo Amortiserad kostnad tillvägagångssätt rdquo: a) La passivagrave egrave valutata tramite il valore attuale dei cashflow attesi sulla polizzab) I derivat med beaktande av skillnaden mellan konton till huvudkontor) Valutaväxlingskostnaderna sammanfaller med premiebeloppet för de aktuella kostnaderna) dei cashflow possono essere modifiera nel corso del contrattoe) Jag är en av de mest efterfrågade personerna i hela världen. ldquo Nuvarande inlösenvärde rdquo: a) Lrsquoammontare della passivitagrave, alla data di valutazione, egrave data dal premier unico che lrsquoassicurato pagherebbe per ottenere un contratto garantera att du kan prestazioni residueb) egrave permesso differire i costi di acquisizionec) ad ochni data di valutazione egrave permesso modificare le stimed) Jag rekommenderar att du lägger dig till de senaste uppdateringarna för prissättning. ldquo Nuvarande utgångsvärde rdquo a) Valuta della passivagrave egrave datum dal valore attuale dei cashflow attesi con incluso un margine di rischiob) inte egrave permesso differire i costic) Jag är medveten om att du är en del av din privatperson. Quando si procédé a valutare il fair value tramite un modello en devono considerare i rischi connessi a questa scelta ed in paricolare: - Rischio della scelta del modello (modellrisk) - Rischio connesso alla parametri parametri (parameter risk) ndash rischio connesso ad un modello stocastico (porcess risk). Jag kan utnyttja det här alternativet för att göra det möjligt för mig att göra det möjligt för mig själv att bestämma vad som är naturligt. Däremot har du det bästa sättet att bestämma hur mycket du ska bestämma om du vill ha det bra. Sia che si si scelga lrsquouna o lrsquoaltra strada, en del av valutaväxlarna för valutakursförsäkringar (inlåning per enhet), till exempel när det gäller kassaflödet, vilket är en av de viktigaste faktorerna för att göra det. Jag är medveten om att risken är fri (prima risk) prima delle tasse. Sono considerati flussi futuri: a) Tillfredsställande delle prestazioni assicurate comprensive delle spese di liquidazione b) Jag berättar om att förvärva och pröva en del av det tillförlitliga. Evidentemente quando la stima egrave fakta om modellen och devono formare delle ipotesi riguardanti. a) lrsquo aspettativa dellrsquoimpresa, coerente con lrsquoandamento del mercato, ca i cashflow futuri (ipotesi distributive) b) Jag är intresserad av att inflazione dovrebbero trovere riscontro sul mercatoc) varaktigt dei contratti, etagrave, le spese. devono essere scelte i bas allrsquoesperienza dellrsquoimpresa. Alcune precisazioni sono necessarie. Det primära kapitalflödet är att i det här fallet utgörs av en marginal räntekostnad, vilket innebär att valutakursen inte är mer än en miljarder kronor (MVM-märkt värdemarginal). Särskilt i fråga om valutaförmåner i valutaförmåner i valutaförvaltningen, i förhållande till investeringarna, delfinansieringen och utbetalningen av investeringar i sopravalutate och quelle delle riserve e delle spese non siano sottostimaterdquo. La seconda riguarda la presenza eller meno di opzioni nel contratto riguardanti ad esempio: rendimento minimo, riscatto och opzione in rendita a scadenza. Den främsta uppgiften är att man inte kan prata om att det inte är en förutsättning för att det inte är ett rimligt värde, utan att det är nödvändigt att skilja sig från varandra, eftersom det inte kommer att vara en avgörande faktor för avvikelsen. Ultid Novitagrave dal fronte IFRS4 Deltagarna i det här avsnittet gäller följande: - Konvergens till tre IASB (International Accounting Standard Boards) och FASB (Financial Accounting Standards Board) - Messa i diskussion om konkreta verkliga värden vid del av IASB La novitagrave principale egrave senzrsquoaltro il secondo punto mentre la convergenza dei principi contabili statéitensi a quelli european, o viceversa, era ed egentliga facilitee prevedibile kommer prevedibile egrave che gli FASB finiranno per influenzare i modo consistente gli IAS (se ej altro per la maggior storia alla spalle) . I meritförändringarna är det rimliga värdet att lösa in i IASB med en diskussion om preferens för att lösa utgående värde. Det innebär att FASB inte har rätt att göra en giltig bedömning genom att det är felaktigt att göra det möjligt att svara på en del av passivgraven. I fråga om konkurrensbegränsningar är det viktigt att det är ett värde som inte är avgörande för att det ska kunna uppnås med det verkliga värdet, men som har en verklig värde på grund av det belopp på vilket en tillgång eller skuld skulle kunna bytas ut i en aktuell transaktion mellan kunniga orelaterade villiga parter när varken agerar under tvångsavgörande, frivilligt erkännande av FASB-tilläggsförmåner, vilket är ett verkligt värde för att uppnå det aktuella resultatet. Si ha lrsquoimpressione che il concetto di fair value egrave accettato dallo IASB che trova difficoltagrave ad applicarlo o ad associare ad esso un modello in maniera univoca. Anche interpretando il fair value con il CEV si richiedono la stima dei cash flow attesi, la stima dei tassi di attualizzazione ed un margine per il rischio. Dopo la pubblicazione del documento di discussione ldquoPreliminary views on insurance contractrdquo dello IASB il FASB ha dichiarato di ritenere il progetto relativo allrsquoemanazione dei principi contabili internazionali un progetto comune. Recentemente la SEC ha annunciato che le imprese straniere operanti negli USA che redigono i bilanci in base ai principi contabili IFRS sono esentate dallrsquoobbligo di riconciliarli con quelli statunitensi (US GAAP). IFRS 4 - VALUTAZIONE DEI PRODOTTI SECONDO GLI IAS ASSICURATIVIHow to Account for Spare Parts under IFRS One of the biggest issues related to property, plant and equipment is accounting for spare parts, servicing equipment, stand-by equipment and similar items . IFRS standards are pretty silent about this topic, the guidance is very limited and as a result, companies need to rely on careful assessment of the situation and their judgment. There are 2 main issues related to spare parts and similar items: Should we recognize and present them as property, plant and equipment (PPE) or as inventories How should we depreciate major spare parts that are a part of PPE Lets try to analyze them. Spare parts PPE or Inventory The first major issue with spare parts is to determine whether they are considered as inventories and thus accounted for under IAS 2 Inventories, or they are considered as property, plant and equipment and thus accounted for under IAS 16 Property, Plant and Equipment . Special For You Have you already checked out the IFRS Kit . Its a full IFRS learning package with more than 30 hours of private video tutorials, more than 100 IFRS case studies solved in Excel, more than 120 pages of handouts and many bonuses included. If you take action today and subscribe to the IFRS Kit, youll get it at discount Click here to check it out You should be very careful in assessing whether you deal with IAS 2 or IAS 16, because the wrong selection can have serious implications on your financial statements, for example: Incorrect measurement of your spare parts (depreciate or not) Incorrect presentation of your spare parts (non-current assets or current assets) For all spare parts its good to remember that in most cases, they are inventories . But its not so simple as that. The standard IAS 16. paragraph 8 specifically says that When major spare parts and stand-by equipment are expected to be used during more than 1 period . then they are accounted for as PPE and If spare parts and servicing equipment can be used only in connection with an item of PPE . then they are accounted for as PPE. As a result, you should consider the following criteria when assessing your spare parts: Purpose of the spare parts Are spare parts consumed in a production process (whether to produce goods or render services) or held as merchandise for resale If yes, then it might indicate they are inventories. If not, then spare parts might be considered PPE. Time aspect Do you need spare parts to operate some other asset during more than one period Do you plan to use these items during more than 1 period If yes, then they might be PPE. If not, then they are inventories. Some spare parts are easy to classify, for example back-up engine with significant acquisition cost is a major spare part and thus accounted for as PPE. Some other items might not be that easy. Therefore, apart from the 2 criteria above, there are even more issues to consider: Materiality Sometimes, you can have an asset that is used in the production process for more than 1 period, but its acquisition cost is very small . And sometimes, you can have a huge amount of similar spare parts or servicing equipment. For example, small tools, moulds, pallets or containers used for more than 1 period. In this case, these assets are PPE rather than inventories, but its not very practical for keeping track of these assets and their accounting, is it It would be very hard to label each individual screwdriver, not mentioning depreciation In this case, you need to assess materiality, or significance of similar spare parts and servicing equipment for your financial statements. And not only materiality on an individual, asset-by-asset level, but also materiality of the whole group of these assets. So, if you have 2 hammers and 1 screwdriver, then although its in fact PPE, its reasonable to account for these items as for inventories and expense them in profit or loss. However, if you own 10 000 hammers and 5 000 screwdrivers, then if their cost is material with respect to your financial statements, you shouldnt simply expense them. This brings me to the second consideration unit of account. Unit of Account The standard IAS 16 says that its up to an entity to determine how it will apply the recognition and measurement criteria whether to an individual asset, or to a group of assets on an aggregate basis (IAS 16.9). Simply speaking: what is our item of PPE in the case of large amount of small items Is it the individual single screwdriver with the cost of USD 5 Or, is it the set of 5 000 screwdrivers with the cost of USD 25 000 (52155 000) Both options are possible, but the first one does not make much economical sense, as it would be difficult to keep records for 5 000 small assets. As a result, when you have a lot of servicing equipment or spare parts with small individual cost, then its reasonable to account for them as for PPE under IAS 16 if their aggregate value is material. In such a case, its practical and totally acceptable to apply paragraph 9 of IAS 16 and measure these small assets as 1 item of PPE a set of assets. Special For You Have you already checked out the IFRS Kit . Its a full IFRS learning package with more than 30 hours of private video tutorials, more than 100 IFRS case studies solved in Excel, more than 120 pages of handouts and many bonuses included. If you take action today and subscribe to the IFRS Kit, youll get it at discount Click here to check it out Minimum Levels In some businesses, minimum levels of inventories must be maintained in order to operate assets. In this case, inventories are not separable from an item of PPE and such inventories are in fact a PPE. Take oil refinery, for example. My limited knowledge about refineries tells me that refineries must contain some minimum quantity of oil to operate. This oil must stay there until the plant ceases operations. Is this minimum level of oil classified as inventories or an item of PPE As it is not consumed in a production process, but it is necessary for plants operation and its going to stay there until the plant closes (for more than 1 year), its PPE. And as strange as it might be, you need to account for a minimum level of oil as for PPE, and for the remaining oil as for inventories. How to Depreciate Spare Parts in PPE After we learned how to classify an item as PPE or as inventories, the question is when and how to depreciate major spare parts that are classified as PPE. Depreciation of spare parts is not specifically addressed by the standards and therefore, we must apply our judgment. IAS 16 in paragraph 55 only says that the depreciation should begin when an asset is available for use . Whats the issue here Often, the spare parts are in the warehouse and not directly in use and therefore, its questionable when to start depreciation charges. Should you depreciate spare parts only when they actually replaced a defective part and are in operation Or, should you depreciate spare parts once they are in the warehouse . regardless their actual usage In such a case, what is their useful life It depends on the nature of the spare part . If you keep the spare part to ensure smooth operation of some machinery without interruptions, then the depreciation period should start immediately. The reason is that such a critical spare part is available for use immediately when an original part in the machine stops working. However, if you keep the spare part to be used as a replacement part at some future time and you are sure that this part will be installed and put into use at a later date, then the depreciation should start when the part is installed. You should carefully assess the nature of your spare parts, their function and future use and only then decide. Here, judgment is necessary. This issue was addressed by several IFRS Discussion groups in the past and Im pretty sure that this is a great discussion topic even now, so please go ahead and leave me a comment right below this article. Thank you Dear Silvia, Our company has stated this policy for spare parts: Spare part, which costs more than 1700 euro (for immateriality), and when is used (replacing existing part in PPE), it is supposed to be used for more than 1 year, we capitalize it means it is shown as part of PPE in our financial statements. Subsequently we divide these spare parts into two groups: the first group spare parts have character of stand-by equipment, they are usually bought with item of PPE and they are usually unique for this item of PPE, there is no assumption that they will use - The second group spare parts whit useful life shorter than is useful life of PPE, for which they can be used, and there is an assumption that this spare parts is changed at least once during using of PPE item. These two groups differ in commencement of depreciation (or whether they are at all depreciated). Depreciation of the first group spare parts starts when they are acquired (and ready for use), together with specific PPE item, and is calculated for the same period as PPE item. Depreciation of the second group spare parts depends on the way how spare parts is used. Because in this situation we follow national accounting rules: if spare part is used as for maintenancerepair (according our national accounting standards it means expense) of PPE item for ifrsias is recognized as expense in PampL, and is not depreciated if spare part is used within the activity, that extends the useful life of PPE item or that improves this PPE item (according our national standards it is added to cost of PPE item) for ifrsias it is also added to cost and depreciated with PPE item. It means that we dont follow an idea that I have written above all spare parts recognized as PPE should be depreciated because they should be accounted for as replacement of existing part and subsequently depreciated separately of together with PPE item. The reason is we prepare statements in accordance with our standards and we do only elimination of differences. 1. In balance sheet we add PPE spare parts to PPE and reduce inventory. 2. In PampL: - for the first group spare parts we do only elimination of expenses (when they are used during maintenancerepair) of our depreciation (when they are used for our improvement) and we add depreciation mentioned above - for the second group spare parts we do nothing replacement of spare parts is part of maintenancerepair expenses or they are depreciated from the time they are used. In both cases we do not derecognise remaining amount of replaced part. Thats why I asked RMAU for why heshe thinks it is possible to recognise spare parts as PPE and subsequently account for their consumption as expense. Maybe heshe found some support for this opinion in IAS16. Because my opinion is different (how I have said above) but I need change it and has some good argument for that. Silvia, what do you think is our policy for spare parts totally incorrect or it is acceptable Because to prepare it correctly it would take a lot of effort and maybe this is imposible thank you. This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them. The full functionality of our site is not supported on your browser version, or you may have compatibility mode selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox. IFRS 2 Share-based Payment Quick Article Links IFRS 2 Share-based Payment requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity. Specific requirements are included for equity-settled and cash-settled share-based payment transactions, as well as those where the entity or supplier has a choice of cash or equity instruments. IFRS 2 was originally issued in February 2004 and first applied to annual periods beginning on or after 1 January 2005. History of IFRS 2 G41 Discussion Paper Accounting for Share-Based Payments published Comment deadline 31 October 2000 Project added to IASB agenda History of the project IASB invites comments on G41 Discussion Paper Accounting for Share-Based Payments Comment deadline 15 December 2001 Exposure Draft ED 2 Share-Based Payment published Comment deadline 7 March 2003 IFRS 2 Share-based Payment issued Effective for annual periods beginning on or after 1 January 2005 Exposure Draft Vesting Conditions and Cancellations published Comment deadline 2 June 2006 Amended by Vesting Conditions and Cancellations (Amendments to IFRS 2) Effective for annual periods beginning on or after 1 January 2009 Amended by Improvements to IFRSs (scope of IFRS 2 and revised IFRS 3) Effective for annual periods beginning on or after 1 July 2009 Amended by Group Cash-settled Share-based Payment Tra nsactions Effective for annual periods beginning on or after 1 January 2010 Amended by Annual Improvements to IFRSs 20102012 Cycle (definition of vesting condition) Effective for annual periods beginning on or after 1 July 2014 Amended by Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2) Effective for annual periods beginning on or after 1 January 2018 Related Interpretations Amendments under consideration Summary of IFRS 2 In June 2007, the Deloitte IFRS Global Office published an updated version of our IAS Plus Guide to IFRS 2 Share-based Payment 2007 (PDF 748k, 128 pages). The guide not only explains the detailed provisions of IFRS 2 but also deals with its application in many practical situations. Because of the complexity and variety of share-based payment awards in practice, it is not always possible to be definitive as to what is the right answer. However, in this guide Deloitte shares with you our approach to finding solutions that we believe are in accordance with the objective of the Standard. Special edition of our IAS Plus newsletter You will find a four-page summary of IFRS 2 in a special edition of our IAS Plus newsletter (PDF 49k). Definition of share-based payment A share-based payment is a transaction in which the entity receives goods or services either as consideration for its equity instruments or by incurring liabilities for amounts based on the price of the entitys shares or other equity instruments of the entity. The accounting requirements for the share-based payment depend on how the transaction will be settled, that is, by the issuance of (a) equity, (b) cash, or (c) equity or cash. The concept of share-based payments is broader than employee share options. IFRS 2 encompasses the issuance of shares, or rights to shares, in return for services and goods. Examples of items included in the scope of IFRS 2 are share appreciation rights, employee share purchase plans, employee share ownership plans, share option plans and plans where the issuance of shares (or rights to shares) may depend on market or non-market related conditions. IFRS 2 applies to all entities. There is no exemption for private or smaller entities. Furthermore, subsidiaries using their parents or fellow subsidiarys equity as consideration for goods or services are within the scope of the Standard. There are two exemptions to the general scope principle: First, the issuance of shares in a business combination should be accounted for under IFRS 3 Business Combinations . However, care should be taken to distinguish share-based payments related to the acquisition from those related to continuing employee services Second, IFRS 2 does not address share-based payments within the scope of paragraphs 8-10 of IAS 32 Financial Instruments: Presentation . or paragraphs 5-7 of IAS 39 Financial Instruments: Recognition and Measurement . Therefore, IAS 32 and IAS 39 should be applied for commodity-based derivative contracts that may be settled in shares or rights to shares. IFRS 2 does not apply to share-based payment transactions other than for the acquisition of goods and services. Share dividends, the purchase of treasury shares, and the issuance of additional shares are therefore outside its scope. Recognition and measurement The issuance of shares or rights to shares requires an increase in a component of equity. IFRS 2 requires the offsetting debit entry to be expensed when the payment for goods or services does not represent an asset. The expense should be recognised as the goods or services are consumed. For example, the issuance of shares or rights to shares to purchase inventory would be presented as an increase in inventory and would be expensed only once the inventory is sold or impaired. The issuance of fully vested shares, or rights to shares, is presumed to relate to past service, requiring the full amount of the grant-date fair value to be expensed immediately. The issuance of shares to employees with, say, a three-year vesting period is considered to relate to services over the vesting period. Therefore, the fair value of the share-based payment, determined at the grant date, should be expensed over the vesting period. As a general principle, the total expense related to equity-settled share-based payments will equal the multiple of the total instruments that vest and the grant-date fair value of those instruments. In short, there is truing up to reflect what happens during the vesting period. However, if the equity-settled share-based payment has a market related performance condition, the expense would still be recognised if all other vesting conditions are met. The following example provides an illustration of a typical equity-settled share-based payment. Illustration Recognition of employee share option grant Company grants a total of 100 share options to 10 members of its executive management team (10 options each) on 1 January 20X5. These options vest at the end of a three-year period. The company has determined that each option has a fair value at the date of grant equal to 15. The company expects that all 100 options will vest and therefore records the following entry at 30 June 20X5 - the end of its first six-month interim reporting period. Dr. Share option expense (90 15) 6 periods 225 per period. 225 4 250250250 150 Depending on the type of share-based payment, fair value may be determined by the value of the shares or rights to shares given up, or by the value of the goods or services received: General fair value measurement principle. In principle, transactions in which goods or services are received as consideration for equity instruments of the entity should be measured at the fair value of the goods or services received. Only if the fair value of the goods or services cannot be measured reliably would the fair value of the equity instruments granted be used. Measuring employee share options. For transactions with employees and others providing similar services, the entity is required to measure the fair value of the equity instruments granted, because it is typically not possible to estimate reliably the fair value of employee services received. When to measure fair value - options. For transactions measured at the fair value of the equity instruments granted (such as transactions with employees), fair value should be estimated at grant date. When to measure fair value - goods and services. For transactions measured at the fair value of the goods or services received, fair value should be estimated at the date of receipt of those goods or services. Measurement guidance. For goods or services measured by reference to the fair value of the equity instruments granted, IFRS 2 specifies that, in general, vesting conditions are not taken into account when estimating the fair value of the shares or options at the relevant measurement date (as specified above). Instead, vesting conditions are taken into account by adjusting the number of equity instruments included in the measurement of the transaction amount so that, ultimately, the amount recognised for goods or services received as consideration for the equity instruments granted is based on the number of equity instruments that eventually vest. More measurement guidance. IFRS 2 requires the fair value of equity instruments granted to be based on market prices, if available, and to take into account the terms and conditions upon which those equity instruments were granted. In the absence of market prices, fair value is estimated using a valuation technique to estimate what the price of those equity instruments would have been on the measurement date in an arms length transaction between knowledgeable, willing parties. The standard does not specify which particular model should be used. If fair value cannot be reliably measured. IFRS 2 requires the share-based payment transaction to be measured at fair value for both listed and unlisted entities. IFRS 2 permits the use of intrinsic value (that is, fair value of the shares less exercise price) in those rare cases in which the fair value of the equity instruments cannot be reliably measured. However this is not simply measured at the date of grant. An entity would have to remeasure intrinsic value at each reporting date until final settlement. Performance conditions. IFRS 2 makes a distinction between the handling of market based performance conditions from non-market performance conditions. Market conditions are those related to the market price of an entitys equity, such as achieving a specified share price or a specified target based on a comparison of the entitys share price with an index of share prices of other entities. Market based performance conditions are included in the grant-date fair value measurement (similarly, non-vesting conditions are taken into account in the measurement). However, the fair value of the equity instruments is not adjusted to take into consideration non-market based performance features - these are instead taken into account by adjusting the number of equity instruments included in the measurement of the share-based payment transaction, and are adjusted each period until such time as the equity instruments vest. Note: Annual Improvements to IFRSs 20102012 Cycle amend s the definitions of vesting condition and market condition and adds definitions for performance condition and service condition (which were previously part of the definition of vesting condition). The amendments are effective for annual periods beginning on or after 1 July 2014. Modifications, cancellations, and settlements The determination of whether a change in terms and conditions has an effect on the amount recognised depends on whether the fair value of the new instruments is greater than the fair value of the original instruments (both determined at the modification date). Modification of the terms on which equity instruments were granted may have an effect on the expense that will be recorded. IFRS 2 clarifies that the guidance on modifications also applies to instruments modified after their vesting date. If the fair value of the new instruments is more than the fair value of the old instruments (e. g. by reduction of the exercise price or issuance of additional instruments), the incremental amount is recognised over the remaining vesting period in a manner similar to the original amount. If the modification occurs after the vesting period, the incremental amount is recognised immediately. If the fair value of the new instruments is less than the fair value of the old instruments, the original fair value of the equity instruments granted should be expensed as if the modification never occurred. The cancellation or settlement of equity instruments is accounted for as an acceleration of the vesting period and therefore any amount unrecognised that would otherwise have been charged should be recognised immediately. Any payments made with the cancellation or settlement (up to the fair value of the equity instruments) should be accounted for as the repurchase of an equity interest. Any payment in excess of the fair value of the equity instruments granted is recognised as an expense New equity instruments granted may be identified as a replacement of cancelled equity instruments. In those cases, the replacement equity instruments are accounted for as a modification. The fair value of the replacement equity instruments is determined at grant date, while the fair value of the cancelled instruments is determined at the date of cancellation, less any cash payments on cancellation that is accounted for as a deduction from equity. Disclosure Required disclosures include: the nature and extent of share-based payment arrangements that existed during the period how the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period was determined the effect of share-based payment transactions on the entitys profit or loss for the period and on its financial position. Effective date IFRS 2 is effective for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. Transition All equity-settled share-based payments granted after 7 November 2002, that are not yet vested at the effective date of IFRS 2 shall be accounted for using the provisions of IFRS 2. Entities are allowed and encouraged, but not required, to apply this IFRS to other grants of equity instruments if (and only if) the entity has previously disclosed publicly the fair value of those equity instruments determined in accordance with IFRS 2. The comparative information presented in accordance with IAS 1 shall be restated for all grants of equity instruments to which the requirements of IFRS 2 are applied. The adjustment to reflect this change is presented in the opening balance of retained earnings for the earliest period presented. IFRS 2 amends paragraph 13 of IFRS 1 First-time Adoption of International Financial Reporting Standards to add an exemption for share-based payment transactions. Similar to entities already applying IFRS, first-time adopters will have to apply IFRS 2 for share-based payment transactions on or after 7 November 2002. Additionally, a first-time adopter is not required to apply IFRS 2 to share-based payments granted after 7 November 2002 that vested before the later of (a) the date of transition to IFRS and (b) 1 January 2005. A first-time adopter may elect to apply IFRS 2 earlier only if it has publicly disclosed the fair value of the share-based payments determined at the measurement date in accordance with IFRS 2. Differences with FASB Statement 123 Revised 2004 In December 2004, the US FASB published FASB Statement 123 (revised 2004) Share-Based Payment. Statement 123(R) requires that the compensation cost relating to share-based payment transactions be recognised in financial statements. Click for FASB Press Release (PDF 17k). Deloitte (USA) has published a special issue of its Heads Up newsletter summarising the key concepts of FASB Statement No. 123(R). Click to download the Heads Up Newsletter (PDF 292k). While Statement 123(R) is largely consistent with IFRS 2, some differences remain, as described in a QampA document FASB issued along with the new Statement: Q22. Is the Statement convergent with International Financial Reporting Standards The Statement is largely convergent with International Financial Reporting Standard (IFRS) 2, Share-based Payment. The Statement and IFRS 2 have the potential to differ in only a few areas. The more significant areas are briefly described below. IFRS 2 requires the use of the modified grant-date method for share-based payment arrangements with nonemployees. In contrast, Issue 96-18 requires that grants of share options and other equity instruments to nonemployees be measured at the earlier of (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached or (2) the date at which the counterpartys performance is complete. IFRS 2 contains more stringent criteria for determining whether an employee share purchase plan is compensatory or not. As a result, some employee share purchase plans for which IFRS 2 requires recognition of compensation cost will not be considered to give rise to compensation cost under the Statement. IFRS 2 applies the same measurement requirements to employee share options regardless of whether the issuer is a public or a nonpublic entity. The Statement requires that a nonpublic entity account for its options and similar equity instruments based on their fair value unless it is not practicable to estimate the expected volatility of the entitys share price. In that situation, the entity is required to measure its equity share options and similar instruments at a value using the historical volatility of an appropriate industry sector index. In tax jurisdictions such as the United States, where the time value of share options generally is not deductible for tax purposes, IFRS 2 requires that no deferred tax asset be recognized for the compensation cost related to the time value component of the fair value of an award. A deferred tax asset is recognized only if and when the share options have intrinsic value that could be deductible for tax purposes. Therefore, an entity that grants an at-the-money share option to an employee in exchange for services will not recognize tax effects until that award is in-the-money. In contrast, the Statement requires recognition of a deferred tax asset based on the grant-date fair value of the award. The effects of subsequent decreases in the share price (or lack of an increase) are not reflected in accounting for the deferred tax asset until the related compensation cost is recognized for tax purposes. The effects of subsequent increases that generate excess tax benefits are recognized when they affect taxes payable. The Statement requires a portfolio approach in determining excess tax benefits of equity awards in paid-in capital available to offset write-offs of deferred tax assets, whereas IFRS 2 requires an individual instrument approach. Thus, some write-offs of deferred tax assets that will be recognized in paid-in capital under the Statement will be recognized in determining net income under IFRS 2. Differences between the Statement and IFRS 2 may be further reduced in the future when the IASB and FASB consider whether to undertake additional work to further converge their respective accounting standards on share-based payment. March 2005: SEC Staff Accounting Bulletin 107 On 29 March 2005, the staff of the US Securities and Exchange Commission issued Staff Accounting Bulletin 107 dealing with valuations and other accounting issues for share-based payment arrangements by public companies under FASB Statement 123R Share-Based Payment. For public companies, valuations under Statement 123R are similar to those under IFRS 2 Share-based Payment. SAB 107 provides guidance related to share-based payment transactions with nonemployees, the transition from nonpublic to public entity status, valuation methods (including assumptions such as expected volatility and expected term), the accounting for certain redeemable financial instruments issued under share-based payment arrangements, the classification of compensation expense, non-GAAP financial measures, first-time adoption of Statement 123R in an interim period, capitalisation of compensation cost related to share-based payment arrangements, accounting for the income tax effects of share-based payment arrangements on adoption of Statement 123R, the modification of employee share options prior to adoption of Statement 123R, and disclosures in Managements Discussion and Analysis (MDampA) subsequent to adoption of Statement 123R. One of the interpretations in SAB 107 is whether there are differences between Statement 123R and IFRS 2 that would result in a reconciling item: Question: Does the staff believe there are differences in the measurement provisions for share-based payment arrangements with employees under International Accounting Standards Board International Financial Reporting Standard 2, Share-based Payment (IFRS 2) and Statement 123R that would result in a reconciling item under Item 17 or 18 of Form 20-F Interpretive Response: The staff believes that application of the guidance provided by IFRS 2 regarding the measurement of employee share options would generally result in a fair value measurement that is consistent with the fair value objective stated in Statement 123R. Accordingly, the staff believes that application of Statement 123Rs measurement guidance would not generally result in a reconciling item required to be reported under Item 17 or 18 of Form 20-F for a foreign private issuer that has complied with the provisions of IFRS 2 for share-based payment transactions with employees. However, the staff reminds foreign private issuers that there are certain differences between the guidance in IFRS 2 and Statement 123R that may result in reconciling items. Footnotes omitted Click to download: March 2005: Bear, Stearns Study on Impact of Expensing Stock Options in the United States If US public companies had been required to expense employee stock options in 2004, as will be required under FASB Statement 123R Share-Based Payment starting in third-quarter 2005: the reported 2004 post-tax net income from continuing operations of the SampP 500 companies would have been reduced by 5, and 2004 NASDAQ 100 post-tax net income from continuing operations would have been reduced by 22. Those are key findings of a study conducted by the Equity Research group at Bear, Stearns amp Co. Inc. The purpose of the study is to help investors gauge the impact that expensing employee stock options will have on the 2005 earnings of US public companies. The Bear, Stearns analysis was based on the 2004 stock option disclosures in the most recently filed 10Ks of companies that were SampP 500 and NASDAQ 100 constituents as of 31 December 2004. Exhibits to the study present the results by company, by sector, and by industry. Visitors to IAS Plus are likely to find the study of interest because the requirements of FAS 123R for public companies are very similar to those of IFRS 2. We are grateful to Bear, Stearns for giving us permission to post the study on IAS Plus. The report remains copyright Bear, Stears amp Co. Inc. all rights reserved. Click to download 2004 Earnings Impact of Stock Options on the SampP 500 amp NASDAQ 100 Earnings (PDF 486k). November 2005: Standard amp Poors Study on Impact of Expensing Stock Options In November 2005 Standard amp Poors published a report of the impact of expensing stock options on the SampP 500 companies. FAS 123(R) requires expensing of stock options (mandatory for most SEC registrants in 2006). IFRS 2 is nearly identical to FAS 123(R). SampP found: Option expense will reduce SampP 500 earnings by 4.2. Information Technology is affected the most, reducing earnings by 18. PE ratios for all sectors will be increased, but will remain below historical averages. The impact of option expensing on the Standard amp Poors 500 will be noticeable, but in an environment of record earnings, high margins and historically low operating price-to-earnings ratios, the index is in its best position in decades to absorb the additional expense. SampP takes issue with those companies that try to emphasise earnings before deducting stock option expense and with those analysts who ignore option expensing. The report emphasises that: Standard amp Poors will include and report option expense in all of its earnings values, across all of its business lines. This includes Operating, As Reported and Core, and applies to its analytical work in the SampP Domestic Indices, Stock Reports, as well as its forward estimates. It includes all of its electronic products. The investment community benefits when it has clear and consistent information and analyses. A consistent earnings methodology that builds on accepted accounting standards and procedures is a vital component of investing. By supporting this definition, Standard amp Poors is contributing to a more reliable investment environment. The current debate as to the presentation by companies of earnings that exclude option expense, generally being referred to as non-GAAP earnings, speaks to the heart of corporate governance. Additionally, many equity analysts are being encouraged to base their estimates on non-GAAP earnings. While we do not expect a repeat of the EBBS (Earnings Before Bad Stuff) pro-forma earnings of 2001, the ability to compare issues and sectors depends on an accepted set of accounting rules observed by all. In order to make informed investment decisions, the investing community requires data that conform to accepted accounting procedures. Of even more concern is the impact that such alternative presentation and calculations could have on the reduced level of faith and trust investors put into company reporting. The corporate governance events of the last two-years have eroded the trust of many investors, trust that will take years to earn back. In an era of instant access and carefully scripted investor releases, trust is now a major issue. January 2008: Amendment of IFRS 2 to clarify vesting conditions and cancellations On 17 January 2008, the IASB published final amendments to IFRS 2 Share-based Payment to clarify the terms vesting conditions and cancellations as follows: Vesting conditions are service conditions and performance conditions only. Other features of a share-based payment are not vesting conditions. Under IFRS 2, features of a share-based payment that are not vesting conditions should be included in the grant date fair value of the share-based payment. The fair value also includes market-related vesting conditions. All cancellations, whether by the entity or by other parties, should receive the same accounting treatment. Under IFRS 2, a cancellation of equity instruments is accounted for as an acceleration of the vesting period. Therefore any amount unrecognised that would otherwise have been charged is recognised immediately. Any payments made with the cancellation (up to the fair value of the equity instruments) is accounted for as the repurchase of an equity interest. Any payment in excess of the fair value of the equity instruments granted is recognised as an expense. The Board had proposed the amendment in an exposure draft on 2 February 2006. The amendment is effective for annual periods beginning on or after 1 January 2009, with earlier application permitted. Deloitte has published a Special Edition of our IAS Plus Newsletter explaining the amendments to IFRS 2 for vesting conditions and cancellations (PDF 126k). June 2009: IASB amends IFRS 2 for group cash-settled share-based payment transactions, withdraws IFRICs 8 and 11 On 18 June 2009, the IASB issued amendments to IFRS 2 Share-based Payment that clarify the accounting for group cash-settled share-based payment transactions. The amendments clarify how an individual subsidiary in a group should account for some share-based payment arrangements in its own financial statements. In these arrangements, the subsidiary receives goods or services from employees or suppliers but its parent or another entity in the group must pay those suppliers. The amendments make clear that: An entity that receives goods or services in a share-based payment arrangement must account for those goods or services no matter which entity in the group settles the transaction, and no matter whether the transaction is settled in shares or cash. In IFRS 2 a group has the same meaning as in IAS 27 Consolidated and Separate Financial Statements . that is, it includes only a parent and its subsidiaries. The amendments to IFRS 2 also incorporate guidance previously included in IFRIC 8 Scope of IFRS 2 and IFRIC 11 IFRS 2Group and Treasury Share Transactions . As a result, the IASB has withdrawn IFRIC 8 and IFRIC 11. The amendments are effective for annual periods beginning on or after 1 January 2010 and must be applied retrospectively. Earlier application is permitted. Click for IASB press release (PDF 103k). June 2016: IASB clarifies the classification and measurement of share-based payment transactions On 20 June 2016, the International Accounting Standards Board (IASB) published final amendments to IFRS 2 that clarify the classification and measurement of share-based payment transactions: Accounting for cash-settled share-based payment transactions that include a performance condition Until now, IFRS 2 contained no guidance on how vesting conditions affect the fair value of liabilities for cash-settled share-based payments. IASB has now added guidance that introduces accounting requirements for cash-settled share-based payments that follows the same approach as used for equity-settled share-based payments. Classification of share-based payment transactions with net settlement features IASB has introduced an exception into IFRS 2 so that a share-based payment where the entity settles the share-based payment arrangement net is classified as equity-settled in its entirety provided the share-based payment would have been classified as equity-settled had it not included the net settlement feature. Accounting for modifications of share-based payment transactions from cash-settled to equity-settled Until now, IFRS 2 did not specifically address situations where a cash-settled share-based payment changes to an equity-settled share-based payment because of modifications of the terms and conditions. The IASB has intoduced the following clarifications: On such modifications, the original liability recognised in respect of the cash-settled share-based payment is derecognised and the equity-settled share-based payment is recognised at the modification date fair value to the extent services have been rendered up to the modification date. Any difference between the carrying amount of the liability as at the modification date and the amount recognised in equity at the same date would be recognised in profit and loss immediately. Material on this website is 2017 Deloitte Global Services Limited, or a member firm of Deloitte Touche Tohmatsu Limited, or one of their related entities. See Legal for additional copyright and other legal information. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms, and their related entities. 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