In our bi-monthly podcast series Dipthi Govind, Accounting Technical Manager (Host) and Renitha Dwarika, Partner at PwC, IFRS and Telecommunications Industry Specialist discuss key insights and perspectives covering topical accounting and business-related issues impacting the Telecommunications industry.
In this series we intend to break down some of the complexities impacting both executive and non-executive functions of a company in an effort to raise awareness of the accounting issues faced by the industry given the changing landscape of IFRS and megatrends (5 global shifts) which are reshaping the world we live in.
IFRS 3, ‘Business Combinations’, has been amended to update the definition of a business. The amended definition will likely result in more acquisitions being accounted for as asset acquisitions.
In this episode, Renitha Dwarika, technical partner and Telecommunications specialist unpacks the new concepts introduced as a result of this amendment.
As a result of the COVID-19 pandemic, rent concessions have been granted to lessees. Such concessions might take a variety of forms, including the forgiveness and deferral of lease payments.
In this episode, we talk about the IFRS 16 COVID-19-related rent concessions amendment. When are you in the scope of the amendment to IFRS 16? When is it effective? These questions and more are answered in this podcast.
One of the aspects of the transition to the new leasing standard that has been proven to be quite challenging in practice is the impact that IFRS 16 has on an entity’s impairment model. The interaction between the new leasing standard and the impairment standard, IAS 36, is not straight-forward.
Renitha Dwarika, technical partner and Telecommunications leader, provides insights on these complexities and accounting considerations for the impairment calculation.
In this episode, we talk about the notion of penalties and discuss the interaction between the useful life of non-removable leasehold improvements and the lease term under IFRS 16.
In this episode, we talk about unit of account considerations in terms of IFRS 16 and why this is important. This key consideration can impact conclusions reached when evaluating leases under IFRS 16 if incorrectly identified, and therefore the resulting accounting model.
In this podcast, we talk about the different types of long-term capacity arrangements and consider whether these arrangements contain leases, from the perspective of the lessee under IFRS 16.
Partner/Director, PwC South Africa
Tel: +27 (0) 11 797 4920
Manager, PwC South Africa
Tel: +27 (0) 11 797 5681