The hype today around IFRS 9 and 15 is, at times, reminiscent of
how IFRS 10 was received when it went live five years ago. One
might hope that the hype fades in proportion to how clear and
comfortable the new standard becomes—but what is real state
of IFRS 10 in terms of its challenges, changes, and complexity?
Given that IFRS 10 was a "fresh" standard, i.e. not a
revision of an older one, certain difficulties have persisted.
Plus, the standard requires issuers to exercise a high degree of
judgement, which makes it a tricky one.
The issues often arise because business parties, when deciding
who has rights to what, rarely consider the accounting aspect of
the deal (i.e. who will consolidate the entity at the end of the
day). In practice, there are so many kinds of agreements between
shareholders and other stakeholders that it's often hard to
decide which entity controls the investee. While naturally there
are similarities, one rarely finds the same terms and
