Equity Settled Share-based Payments as per IFRS 2 account for the payment for goods/services in the form of Equity Instruments (‘Shares’ or ‘Share Options’) of the Co./group company. 📘 IFRS 2 · Accounting Standard 📅 Standard: IFRS 2 🏛 Body: IASB 📂 Category: Financial Reporting Definition Scope Recognition Measurement Vesting … Read More

The One difference amongst Many of IFRS 9 Vs IAS 39 STATES that the key difference is in relation to the approach to ‘IMPAIRMENT’. IFRS 9 uses ‘Expected Credit Losses‘ (ECLs) to recognize impairment losses on financial assets, as compared to IAS 39 ‘Incurred Losses‘. Financial Reporting Standards · Comparative … Read More

IFRS 9 INTRODUCED the concept of Fair Value through Profit or Loss (FVPL). This classification APPLIES to financial instruments that are held for trading purposes and those that are designated at fair value through profit or loss. IFRS 9 · Financial Instruments · Accounting Standards Standard IFRS 9 Effective Date … Read More

IFRS 9 EXPLAINS the concept of FVOCI and its SIGNIFICANCE and requires to RECOGNIZE changes in Fair Value through Other Comprehensive Income rather than in Profit or Loss (P&L). IFRS 9 · Financial Instruments 3 Classification Categories IFRS 9 Governing Standard OCI Gains Reported Here Contents What Is FVOCI? Formal … Read More

Derecognition of Financial Assets as per IFRS 9 STATES that a ‘trade receivable should be de-recognized when an entity collects payment‘. The collection of payment signifies the end of any exposure to risks or any continuing involvement. ● IFRS 9 · IAS 39 · Financial Instruments 3 Core derecognition criteria … Read More

Hedge Accounting APPLIES to all hedge relationships, with the EXCEPTION of fair value hedges of the interest rate exposure of a portfolio of financial assets or financial liabilities. Financial Accounting · Risk Management What Is It? Hedge Types Criteria Standards Process Journal Entries Effectiveness Benefits & Risks Glossary FAQ Hedge accounting … Read More

IFRS 15 promulgated by the International Accounting Standards Board (IASB) PROVIDES guidance on accounting for ‘Revenue from Contracts with Customers’. It was adopted in 2014 and became EFFECTIVE in January 2018. IFRS Standard · Revenue Recognition 📅 Effective: 1 January 2018 📋 Replaces: IAS 18 & IAS 11 🌍 Adopted … Read More

The Objective of IFRS 14 is to specify the financial reporting requirements for ‘Regulatory Deferral Account Balances‘ that arise when an entity provides goods or services to customers at a price or rate that is subject to rate regulation. IASB International Financial Reporting Standard IFRS Standard 14 Contents Overview Scope … Read More