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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 05/03/2020 What do you want to know on IFRS The essentials When it comes to financial reporting, it makes sense to use a standard process and way of representing it. This is why IFRS is an important concept making the accounts of any organisation understandable across international boundaries. If … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 What about impairment of goodwill – Goodwill must be tested annually for impairment in accordance with IAS 36 10(b). Goodwill must be allocated to one or more CGUs for the purpose of impairment testing because it does not generate independent cash inflows. Goodwill is commonly allocated to … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 18/03/2020 Weather derivative accounting – The weather has an enormous impact on business activities of many kinds and varies both geographically and seasonally. Sellers of weather derivatives use the instruments to hedge their own risks and to make trading profits. Just as a firm can manage its currency … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 US GAAP vs IFRS Consolidations at-a-glance – IFRS provides indicators of control, some of which individually determine the need to consolidate. However, where control is not apparent, consolidation is based on an overall assessment of all of the relevant facts, including the allocation of risks and benefits … Read more

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 The perfect 5 step-by-step revenue model -IFRS 15 Revenue from Contracts with Customers was issued on 28 May 2014. It supersedes: IAS 18 Revenue; The perfect 5 step-by-step revenue model IAS 11 Construction contracts; The perfect 5 step-by-step revenue model IFRIC 13 Customer Loyalty Programmes; The perfect … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 24/02/2020 The 6 things to know for IAS 8 – The objective of IAS 8 is to prescribe the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and corrections of errors. IAS 8 … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/02/2020 The 15 most important IFRS 13 Topics – The fair value measurement standard applies to most fair value measurements and disclosures (including measurements based on fair value) that are required or permitted by other standards. The 15 most important IFRS 13 Topics Topics hide Overview The dirty … Read more

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(adsbygoogle = window.adsbygoogle || []).push({}); Last update 23/01/2020 Revenue recognition over time enforceable payment right – IFRS 15 Revenue from Contracts with Customers (contents page is here) introduced a single and comprehensive framework which sets out how much revenue is to be recognised, and when. The core principle is that a vendor should recognise revenue … Read more