Ersilia Erbaio

Ersilia Erbaio


Internally generated GDPR module: to capitalize or not to capitalize?

Did you know that IAS 38 Intangible Assets is almost half a century old? In fact, the first exposure draft dates all the way back to 1977. So, if you think that the first portable computer was only produced in 1981, you can get an idea of just how old it is and how different technology was at that time. In the Digital Era where intangible assets are a company […]
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IFRS 15 and COVID-19: don’t roll the dice on revenue estimates (Part 2)

In my last blog, we discussed how the coronavirus outbreak impacts contract modifications and the existence of a customer contract. As promised, in this article we will take a closer look at how to deal with revenue estimates and revenue related assets in light of the current pandemic. Variable consideration The first thing that comes to mind when thinking of […]
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IFRS 15 and Covid-19: what to consider when it comes to revenue recognition (Part 1)

2019 marks only the second year that companies have had to report their revenues under IFRS 15. Some issuers may still be unfamiliar with it and now have to face the challenge of complying with it in the current market conditions. IFRS 15 is extremely detailed with plenty of aspects that issuers need to take into account. In this article, we will walk you throug […]
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IAS 1: small amendments with a potentially big impact on liability classifications

The International Accounting Standards Board (IASB) recently issued narrow-scope amendments to IAS 1 that clarify the existing requirements for classifying liabilities as current or non-current. In practice, the amendments could affect, for example, the classification of rollover facilities, with some becoming non-current, and convertible instruments, with some […]
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IFRS 15: key findings from year one

In my previous article on IFRS 15, we examined the European regulator’s (ESMA) revenue disclosure expectations for the next set of annual financial statements. With the holidays finally behind us, the time has come to start preparing 2019 annual reports. What better occasion to learn from past mistakes? The UK Financial Reporting Council (FRC) recently publ […]
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IFRS 16…is coming to town!

Still recovering from IFRS 15 and IFRS 9 implementation for 2018 year-end financial statements? Well, don’t relax just yet…It’s time to gear up for the latest challenge: IFRS 16. In its first mandatory year following ESMA’s annual statement on enforcement priorities in October, here’s what you need to know: Lease term Issuers are expected to provi […]
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