Accounting For Ifrs Discounts


DISCOUNTS | ACCA GLOBAL
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Accounting for discounts. Prompt payment discounts (also known as settlement or cash discounts) are offered to credit customers to encourage prompt payment of their account. ...
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IFRS VIEWPOINT - GRANT THORNTON INTERNATIONAL LTD. HOME
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This IFRS Viewpoint provides our views on the purchaser’s accounting treatment for the different types of rebate and discount along with some application examples. Our ‘IFRS … ...
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IFRS 15 VOLUME DISCOUNTS AND MARGIN GUARANTEES
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Feb 21, 2020 Version 2 – Q3 Period end accounting IFRS 15 Volume discounts and Margin guarantees. At the end of Q3 the sales to Retailer X were 175,000 boxes. In the … ...

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IFRS: INVENTORY DISCOUNTS AND REBATES - GRANT THORNTON
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Nov 12, 2015 IFRS: Inventory discounts and rebates. Discounts and rebates can be offered to purchasers in a number of ways, for example trade discounts, settlement discounts, volume-based rebates and other … ...

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DISCOUNT RATES IN IFRS STANDARDS
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These techniques require two main sets of inputs: an estimate of the amount, timing and uncertainty of future cash flows; and. discount rates to translate those cash flows to an … ...

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9.4 DISCOUNTING OF PROVISIONS - VIEWPOINT
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There are certain instances outside of ASC 450 (e.g., in the accounting for asset retirement obligations) where discounting is required. IFRS requires that the amount of a provision … ...

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IFRS 17 DISCOUNTING: LESSONS METHODOLOGICAL …
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What does IFRS 17 say on discounting? IFRS 17 Discounting: General Principles. Discount rate should be consistent with: the timing, currency and liquidity of the liabilities. … ...

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IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS
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Unlike current revenue guidance (under IFRSs), IFRS 15 also specifies the account-ing for the incremental costs of obtaining a contract with a customer and the costs incurred to … ...

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THE THEORY AND PRACTICE OF DISCOUNTING IN FINANCIAL …
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Discounting is a requirement under several IFRS Standards. However, these requirements have different objectives and theoretical bases in different standards, and the way that … ...

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INVENTORY DISCOUNTS AND REBATES - GRANT THORNTON …
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Nov 10, 2015 Discounts and rebates can be offered to purchasers in a number of ways, for example trade discounts, settlement discounts, volume-based rebates and other rebates. Accounting for these … ...

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UNDERSTAND HOW DISCOUNTS ALLOWED WORKS UNDER IFRS 15 - YOUTUBE
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Oct 18, 2020 Here's how the updated* approach to accounting for Discounts Allowed works with a simple example, including the idea, 'unexpected discounts allowed.'. This … ...

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5.4 ALLOCATING DISCOUNTS - VIEWPOINT
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An entity shall allocate a discount entirely to one or more, but not all, performance obligations in the contract if all of the following criteria are met: a. The entity regularly … ...

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HOW TO ACCOUNT FOR SETTLEMENT DISCOUNTS UNDER IFRS 15?
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Aug 29, 2022 To make it absolutely clear for everyone: Settlement discount is a discount for prompt payment of invoice by the customer. Let’s say you sell something for … ...

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IFRS - DISCOUNT RATES
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CONSULTATION FEEDBACK. PROJECT HISTORY. PROJECT NEWS. MEETINGS. Final stage. The Board examined why different IFRS ® Standards require different discount … ...

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CUSTOMER LOYALTY PROGRAMMES (IFRS 15) - IFRSCOMMUNITY.COM
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Jun 28, 2023 Entity A operates a customer loyalty programme. Customers receive 5 loyalty points for every $100 worth of purchases. Each point equates to $1 worth of … ...

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REBATES AND DISCOUNTS IFRS 15 AND IAS 2 - IFRS MEANING
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Mar 30, 2021 Discounts in the purchase of inventories are regulated in IAS 2. Paragraph 11 of this standard establishes that the cost of an inventory is composed of the purchase … ...

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5.16 DISCOUNT RATES - VIEWPOINT
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5.16 Discount rates. Publication date: 30 Nov 2022. us IFRS & US GAAP guide. Differences in the selection criteria for discount rates could lead companies to establish … ...

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REVENUE: ACCOUNTING FOR DISCOUNTS
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Sep 1, 2019 There are two methods an entity can use when accounting for discounts. The first is to create a “contra-revenue” account and the second is to simply net the discount … ...

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UNDERSTANDING THE DISCOUNT RATE L GRANT THORNTON INSIGHTS
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Nov 11, 2018 Under IFRS 16 ‘Leases’, discount rates are required to determine the present value of the lease payments used to measure a lessee’s lease liability. Discount … ...

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HOW TO ACCOUNT FOR CUSTOMER INCENTIVES UNDER IFRS - CPDBOX
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Buy one, get one free... Discounts on future purchases... Coupons for free products... Loyalty points... Learn here how to treat them under the newest IFRS! ...

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IFRS 16: UNDERSTANDING THE DISCOUNT RATE | GRANT THORNTON
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Nov 29, 2018 The lessee’s incremental borrowing rate is defined in IFRS 16 as ‘the rate of interest that a lessee would have to pay to borrow over a similar term, and with a … ...

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INSIGHTS INTO IFRS 16: UNDERSTANDING THE DISCOUNT RATE
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Nov 1, 2018 Under IFRS 16 ‘Leases’, discount rates are used to determine the present value of the lease payments used to measure a lessee’s lease liability. Discount rates … ...

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STAFF PAPER - IFRS
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Information about the rates used to discount estimates of future cash flows are consistent with the principle for measurement uncertainty as described in paragraph 16(c). We also … ...

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IASB ISSUES CALL FOR PAPERS FOR THE 2025 IASB RESEARCH FORUM
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2 days ago The International Accounting Standards Board (IASB) is issuing a call for papers for the 2025 IASB Research Forum (Research Forum). Academics are invited to … ...

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IASB UPDATE – MARCH 18-21, 2024 - IAS PLUS
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The IASB met on March 18, 2024, to discuss potential amendments to IFRS 9, IFRS 7, and the upcoming IFRS Accounting Standard Subsidiaries without Public Accountability: … ...

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