Summary on important themes identified
| Theme | Participants who mentioned each theme | Demographic details of participants |
|---|---|---|
| CCRP transactions are complex and require management’s judgement | P1; P5; P9; P11; P13 | Accountants, head of programme, IFRS advisory team |
| Importance of understanding the substance of the underlying complex transaction | P1; P5; P9; P11; P13 | Accountants, head of programme, IFRS advisory team |
| Considering the contractual right and obligations | P5; P9 | IFRS advisory team |
| Complex to apply a principle-based standard (IFRS 15) to CCRP transactions | P5; P8; P9 | Head of programme, IFRS advisory team |
| Impractical to apply IFRS 15 to some CCRP transactions | P9; P14 | Accountant, IFRS advisory team |
| Auditors are consulted | P5; P6; P9; P10; P11; P13 | Accountant, head of programme, IFRS advisory team |
| In-house advisory team is consulted | P3; P4; P8; P10; P11; P14 | Accountant, head of programme, IFRS advisory team |
| Do not question auditors or in-house advisory team opinion | P7; P9; P10; P13; P14 | Accountant, head of programme, IFRS advisory team |
| Underlying CCRP transaction not re-considered after the issue of IFRS 15 | P5; P7; P10; P11; P14 | Accountant, head of programme, IFRS advisory team |
| Issue of IFRS 15 resulted in an in-depth inquiry of how IFRS 15 is applicable to CCRP transactions | P1; P3; P9 | Accountant, head of programme, IFRS advisory team |
| If IFRIC 13 was applied, IFRS 15 will now be applicable | P8 | Head of programme |
| Some CCRPs are simple and the accounting treatment straightforward (IAS 37) | P7; P10 | Accountant, head of programme |
| Continue applying IAS 37 | P7; P10 | Accountant, head of programme, IFRS advisory team |
| Existing accounting treatment firmly established | P5; P7; P10; P11 | Accountant, head of programme, IFRS advisory team |
| For some CCRPs the value of CCRP transactions is immaterial | P7; P11 | Accountant, IFRS advisory team |
| For some CCRPs the value of CCRP transactions is material | P9 | IFRS advisory team |
| If IFRIC 13 was applied, rethink if IFRS 15 is now applicable (for complex CCRPs) | P9 | IFRS advisory team |
| Theme | Participants who mentioned each theme | Demographic details of participants |
|---|---|---|
| CCRP transactions are complex and require management’s judgement | P1; P5; P9; P11; P13 | Accountants, head of programme, IFRS advisory team |
| Importance of understanding the substance of the underlying complex transaction | P1; P5; P9; P11; P13 | Accountants, head of programme, IFRS advisory team |
| Considering the contractual right and obligations | P5; P9 | IFRS advisory team |
| Complex to apply a principle-based standard (IFRS 15) to CCRP transactions | P5; P8; P9 | Head of programme, IFRS advisory team |
| Impractical to apply IFRS 15 to some CCRP transactions | P9; P14 | Accountant, IFRS advisory team |
| Auditors are consulted | P5; P6; P9; P10; P11; P13 | Accountant, head of programme, IFRS advisory team |
| In-house advisory team is consulted | P3; P4; P8; P10; P11; P14 | Accountant, head of programme, IFRS advisory team |
| Do not question auditors or in-house advisory team opinion | P7; P9; P10; P13; P14 | Accountant, head of programme, IFRS advisory team |
| Underlying CCRP transaction not re-considered after the issue of IFRS 15 | P5; P7; P10; P11; P14 | Accountant, head of programme, IFRS advisory team |
| Issue of IFRS 15 resulted in an in-depth inquiry of how IFRS 15 is applicable to CCRP transactions | P1; P3; P9 | Accountant, head of programme, IFRS advisory team |
| If IFRIC 13 was applied, IFRS 15 will now be applicable | P8 | Head of programme |
| Some CCRPs are simple and the accounting treatment straightforward (IAS 37) | P7; P10 | Accountant, head of programme |
| Continue applying IAS 37 | P7; P10 | Accountant, head of programme, IFRS advisory team |
| Existing accounting treatment firmly established | P5; P7; P10; P11 | Accountant, head of programme, IFRS advisory team |
| For some CCRPs the value of CCRP transactions is immaterial | P7; P11 | Accountant, IFRS advisory team |
| For some CCRPs the value of CCRP transactions is material | P9 | IFRS advisory team |
| If IFRIC 13 was applied, rethink if IFRS 15 is now applicable (for complex CCRPs) | P9 | IFRS advisory team |
Source(s): Created by authors
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.