In one of our former blog posts we had a look at the accounting functioning of equity-settled stock option programs (HERE). Today we want to extend this framework for cash-settled programs – or more concretely: for programs that start out as equity-settled and become cash-settled on the way. It gets a bit more complex, though […]
As a consequence of the experiences made during the great financial crisis 2008/09 the IASB changed financial instruments accounting away from the incurred loan losses approach to a forward looking expected loan losses approach. Concretely, the new IFRS 9 Financial Instruments applies a 3-stage model which requires to classify loans into performing, under-performing or non-performing based on […]
Foreword by Andrew Chilvers For ambitious companies eager to expand into overseas markets, often the conventional route of organic business development is simply not fast enough. The other option to invest in or buy a business outright is far quicker but often fraught with unforeseen dangers. And even the biggest, most experienced players can get […]
Foreword by Andrew Chilvers For ambitious companies eager to expand into overseas markets, often the conventional route of organic business development is simply not fast enough. The other option to invest in or buy a business outright is far quicker but often fraught with unforeseen dangers. And even the biggest, most experienced players can get […]
Foreword by Andrew Chilvers For ambitious companies eager to expand into overseas markets, often the conventional route of organic business development is simply not fast enough. The other option to invest in or buy a business outright is far quicker but often fraught with unforeseen dangers. And even the biggest, most experienced players can get […]
Foreword by Andrew Chilvers For ambitious companies eager to expand into overseas markets, often theconventional route of organic business development is simply not fast enough. The other option to invest in or buy a business outright is far quicker but often fraught with unforeseen dangers. And even the biggest, most experienced players can get it […]
In 2011, the International Accounting Standards Board (IASB) disclosed a whole package of new and revised standards that all addressed the topic ‘reporting entity’. Amongst these standards were the new IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements. One of the core messages of these two new standards was: The so far existent policy choice of […]
Simple capital structures in companies are a thing of the past. The age of unicorns is characterized by complex capital structures. No matter the level of complexity, KNAV is here to help you. Read further to know how we deal with the valuation of companies with complex capital structures.
Simple capital structures in companies are a thing of the past. The age of unicorns is characterized by complex capital structures. No matter the level of complexity, KNAV is here to help you. Read further to know how we deal with the valuation of companies with complex capital structures.
It is not a big secret that coronavirus has hit the airline industry massively. Flight traffic down to super-lows and even for those planes that fly load factors are at levels never seen in the past decades. Today we want to have a look at a special effect of coronavirus on the airline industry (and […]
In our most recent blog post we have already given some first comments on the Viceroy-Grenke-case HERE. We think some more points are worth commenting, in particular to remind everybody that – despite the fact that we see most of the accusations as highly overdone – this short-seller attack is not something to take lightly. Related Parties […]
Yesterday, short-seller Viceroy attacked MDax-listed leasing company Grenke AG (HERE). Today it raised some more allegations (HERE). One important point relates to the accusations of accounting misstatement of the franchise business and consequences for the cash account. We would like to shortly comment on this below. The franchise model is Grenke’s way of entering new […]