Just another WordPress site
Blog posts from Annual Reporting Posts
Step 4 – COSO Information and Communication If risk assessment is the radar and control activities are the brakes and steering wheel, information and communication are the nervous system of the organization. They transmit signals, coordinate action, and ensure the entire body responds coherently to challenges. Without reliable nerves, even the strongest muscles and sharpest … Read more
Executive summary – Step 1 COSO Control Environment Topics hide Executive summary – Step 1 COSO Control Environment Key Elements of the Control Environment 1. Integrity and Ethical Values 2. Board of Directors and Audit Committee Oversight 3. Organizational Structure and Accountability 4. Commitment to Competence 5. Human Resource Policies and Enforcement Why the Control … Read more
COSO Internal Control Framework is globally recognized as the leading standard for designing, implementing, and evaluating internal control systems. Since its initial release in 1992, and especially after its 2013 revision, the framework has provided boards, executives, and auditors with a consistent structure to assess and strengthen governance, risk management, and compliance. The framework identifies … Read more
Topics hide What Are Management-Defined Performance Measures (MPMs)? Why This Matters IFRS 18 Requirements for MPMs Example The Governance Dimension What is public communications outside the financial statements? Challenges and Opportunities Ahead Final Reflection: From Storytelling to Accountability Sources Management-Defined Performance Measures Management-Defined Performance Measures Management-Defined Performance Measures Management-Defined Performance Measures Management-Defined Performance Measures Management-Defined … Read more
Use back button from the brower Business travel: Transportation of employees for business-related activities. Related Articles: Category 4 Upstream Transportation and Distribution – The best calculation guidance Category 6 Business Travel – The best calculation guidance Category 7 Employee Commuting – The best calculation guidance Category 9 Downstream Transportation and Distribution – The best read
Use back button from the brower Equity share: The equity share reflects economic interest, which is the extent of rights a company has to the risks and rewards flowing from an operation. Typically, the share of economic risks and rewards in an operation is aligned with the company’s percentage ownership of that operation, and equity … Read more
Here the questions raised is how to account for revenue in a transfer of land. Or to put it more formally how to account for revenue recognition in a real estate contract that includes the transfer of land (as per IFRS 15 Revenue from Contracts with Customers) as per the same 2018 IFRS Interpretations Committee Agenda … Read more
Variable number of equity instruments or variable exercise price or IFRS 2 Shares to the value of a fixed amount Shares to the value of of if a variable number of equity instruments to the value of a fixed amount is granted, commonly known as ‘shares to the value of’, then such an arrangement is … Read more
IAS 8 Best summary policies estimates and errors comprises a high level summary of the three items in this standard: Accounting policies, Accounting Estimates Errors 1. Accounting policies Definition: Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. ↓ ↓ Selection and application … Read more
IAS 36 Other impairment issues – When looking at the step-by-step IAS 36 impairment approach it comes down to the following broadly organised steps: IAS 36 How Impairment test What?? – Determining the scope and structure of the impairment review, explained here, If and when? – Determining if and when a quantitative impairment test is necessary, … Read more