HKFRS 9 - Expected Credit Losses Model (7/2022)
Financial instruments are subject to impairment review by applying the ‘Expected Credit Losses Model’ (ECL)
HKFRS 13 Fair Value Measurement
IFRS 13 Fair Value Measurement applies when another IFRS requires or permits fair value measurements, either in the primary statements themselves or in the footnotes.
2022 Update - HKFRS 3 Business Combination
Amendments to paragraph 3.23 to clarify the identifiable liabilities to be recognized in business combination to avoid Day-2 gain or loss.
HKFRS 16 - Treatment of Rental Deposit
Should rental deposit be capitalized as ROU assets? It depends on the rental deposit is refundable or not.
2022 update - HKAS 37 Provision of onerous contract
Incremental costs of fulfilling that contract and an allocation of other costs relate directly to fulfilling contracts are to be included in assessing onerous contracts.
2022 update - HKFRS 16 Cost capitalized in PPE
Amendments prohibit the deduction of amounts received from selling items produced while the company is preparing the asset for its intended use from the cost of PPE.
2023 Update - HKAS 12 Income Tax
Amendments to HKAS 12 -Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Subscription of softwares
Should the subscription of softwares be treated as HKFRS16 Leases or HKAS38 Intangible Assets?