IAS 7 – STATEMENT OF CASH FLOWS Cash flows information of an entity is useful in providing users of financial statements with a basis to assess the ability of the entity to generate cash and cash equivalents and the needs of the entity to utilise those …
Scope This Standard shall be applied in accounting for the impairment of all assets, other than: inventories; contract assets and assets arising from costs to obtain or fulfil a contract that are recognized in accordance with IFRS 15 Revenue from Contracts with …
IFRS 15 – Revenue from contracts with customers. The core principle of IFRS 15 (the revenue standard) requires an entity to recognise revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration …
Link between power and variable returns – Principal and agent [ Appendix A] IFRS 10 contains explicit guidance on how to assess whether a decision maker is an agent (acting on behalf of others) or a principal (acting on its …
Have you ever wondered what is the definition of reasonable certainty under IFRS 16. An entity shall determine the lease term as the non-cancellable period of a lease, together with both:- a. periods covered by an option to extend the …
Lessees Almost all leases are recognised in the statement of financial position as a ‘right-of-use’ asset and a lease liability. There are narrow exceptions to this recognition principle for leases where the underlying asset is of low-value and for short-term …
About IFRS 15 International Financial Reporting Standard (IFRS) 15: Revenue from Contracts with Customers was introduced by the International Accounting Standards Board to provide one comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across …
Objective This prescribes the basis for the presentation of general purpose financial statements to ensure comparability both with the entity’s financial statements of previous periods and with the financial statements of other entities. It sets out overall requirements for the …
Not always a stake of more than 20% means that an entity has significant influence. The whole thing depends on how influence is exercised in closed rooms of the Board. The ability to participate is what matters… It is important …
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a …