Consolidation of Financial Statements part 6 - SOCI In the past articles we looked at the details of consolidation and its related complications. We have looked at the statement of financial position in detail and now we are going to look at the statem... Accounting IFRS Nov 20, 2023
IFRS_Exam_Dec2019 Question 3 (a) Explain the principles underpinning the TIMING of revenue recognition and the MEASUREMENT of that revenue which are outlined in IFRS 15. You should provide examples of revenue transacti... IFRS Nov 18, 2023
Accounting For Customer Incentives Under IFRS15 Accounting for customer incentives under the recent Revenue standard IFRS15 Determining the correct accounting treatment will depend on some factors. And before start explaining, let me tell you that ... Accounting IFRS Nov 18, 2023
A Primer into Consolidation A Primer into Consolidation of Group Financial Statements The consolidation of financial statements of groups is an important topic when it comes to financial accounting and reporting. While making th... Accounting IFRS Nov 18, 2023
Consolidation of Financial Statements| Part 2 Consolidation of Financial Statements | Part 2 In the last article we went through the introduction of consolidation of group financial statements and touched the considerably basic definitions and pr... Accounting IFRS Nov 18, 2023
Consolidation ofFinancial Statements|Part 3 Consolidation of Financial Statements| Part 3 In the last article we started to learn the consolidation of the statement of financial position (SOFP). In this article we are going revise a bit from wh... Accounting IFRS Nov 18, 2023
Consolidation of Financial Statements| Part 4 Consolidation of Financial Statements| Part 4 In this article we are going to continue looking at some of the complications that arise during consolidation of group financial statements. In the previo... Finance IFRS Nov 18, 2023
Consolidation ofFinancial Statements |Part 5 Consolidation of Financial Statements | Part 5 We have so far covered in detail the rationale behind preparing the consolidated financial statements and the various complications that arise upon conso... Accounting IFRS Nov 18, 2023
IFRS 9 - Financial Instruments Part 1| Introduction and Definitions IFRS 9 - Financial instruments is a relatively new financial standard that has recently replaced the older IAS 39 - Financial instruments. The new standard has been applicable since 1st January 2018, ... Accounting IFRS Nov 18, 2023
IFRS 9 Part (2)- Measurement In the previous article we looked at the introduction and classification of financial instruments. It is highly recommended that you check out that article first so that you can have grounded knowledg... IFRS Nov 18, 2023
Impairment of Financial Instruments “Story of Financial Crash at 2008” Impairment is a financial concept that is used to make sure that the carrying values of current and noncurrent assets or financial instruments reflect their fair values at any given time. This concept... IFRS Nov 18, 2023
IFRS 9 - Impairment of Financial Instruments As we discussed in the previous article, the need for a new model for the impairment of financial instruments arose after the 2008 financial crisis, although it took almost a decade for the standard t... Accounting IFRS Nov 18, 2023