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IFRS13, does it apply to IFRS2, IAS2 and IFRS16?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS13, does it apply to IFRS2, IAS2 and IFRS16?

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.
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  • August 31, 2020 at 12:33 pm #582837
    amysnowy
    Participant
    • Topics: 72
    • Replies: 25
    • ☆☆

    Dear tutor

    I am confused why in Kaplan textbook, it states, IFRS2 and IFRS 16 is not in the scope of IFRS13.
    However, in IFRS2 measurement of share based payment, regardless using direct or indirect method, it always use the fair value. I am confused. it does use fair value, why the study book says not

    I think I understand why IFRS13 deosn’t apply to IAS2 and IFRS16, is below correct?

    IAS 2 , inventory- initially recognised at cost
    IFRS16, ROU at cost model, liability using PV of futture lease payment

    August 31, 2020 at 1:26 pm #582841
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3396
    • ☆☆☆☆☆

    Does not apply to:

    NRV of inventory
    Share based pay
    Value in use – impairment
    Lease assets

    Because definitions in those standards may not match up precisely – but not worth losing sleep over – if it’s one of the above topics don’t go on about IFRS 13

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