Page 392 - SBR Integrated Workbook STUDENT S18-J19

Chapter 24

IFRS Standards FRS 102

IAS 24 Related Party

Disclosures

The disclosure of key
management personnel
Key compensation must Key management personnel
management disaggregated e.g. short-term compensation is disclosed in
personnel benefits, post-employment total only.
benefits, and share-based
payments.

Transactions between two or
Specific FRS more members of a group need
102 n/a not be disclosed as long as any
exemptions
subsidiary is wholly owned.

IAS 28 Investments in
Associates and Joint
Ventures

Goodwill arising on an associate
Goodwill is included within its carrying Implicit GW arising on an
(GW) associate should be amortised.
amount and is not amortised.

IAS 38 Intangible Assets

When the criteria are met,
Development development costs must be There is a choice to capitalise or
costs expense development costs.
capitalised.

All intangibles have a finite
Useful lives Intangibles can have an useful economic life, with a
of intangibles indefinite useful economic life. rebuttable presumption that this
does not exceed 10 years.

IFRS 3 Business

Combinations

Goodwill GW is not amortised. GW is amortised over its useful
(GW) economic life.

Negative GW is shown as a
Gain on bargain purchase is
negative asset on the face of
recognised in profit or loss.
the SFP.

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