The objective of IFRS 9 is to establish principles for the financialreporting of ‘Financial Assets‘ and ‘Financial Liabilities‘ that will present relevantand useful information to users of financial statements for their assessmentof the amounts, timing and uncertainty of an entity’s future cash flows. IFRS 9 Financial Instruments — The Complete … Read More
ISA 300 DEALS with the auditor’s responsibility to PLAN an ‘Audit‘ of Financial Statements. International Standard on Auditing Issued by IAASB Effective for periods from December 2009 Updated February 2025 In this article Table of Contents 01Overview & Scope 02Objectives of ISA 300 03Preliminary Engagement Activities 04Overall Audit Strategy 05Audit … Read More
ISA 210 DEALS with the Auditor’s responsibilities in AGREEING the terms of the audit engagement with Management and where appropriate those charged with governance. ISA 210 – Agreeing the Terms of Audit Engagements | Complete Guide International Standard on Auditing Issued by IAASB Category Auditing Standard Effective Globally Adopted Contents … Read More
The objective of IFRS 11 is to establish principles for ‘Financial Reporting’ byentities that have an interest in arrangements that are controlled jointly(i.e. Joint Arrangements). IFRS 11 Joint Arrangements – Complete Guide | Definition, Types & Accounting International Financial Reporting Standards Effective from 1 January 2013 Replaces IAS 31 Last … Read More
The objective of IFRS 10 is to establish principles for the Presentation andPreparation of Consolidated Financial Statements when an entity ‘controls’ oneor more other entities. IFRS 10 Consolidated Financial Statements – Complete Guide 2024 IFRS Standards · Financial Reporting Issued: May 2011 Effective: 1 Jan 2013 Standard Body: IASB Supersedes: … Read More
The ‘CORE PRINCIPLE’ of IFRS 8 is that an entity shall Disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environment(s) in which it operates. IFRS 8 – Operating Segments: Complete Guide … Read More
The ‘OBJECTIVE’ of IFRS 7 is to Require entities to provide disclosures in their Financial Statements that enable users to evaluate: IFRS 7 Financial Instruments: Disclosures – Complete Guide 2024 📋 IFRS Standard IFRS 7 Financial Instruments:Disclosures Issued By IASB Effective Date 1 Jan 2007 Last Major Amendment 2023 Replaces … Read More
The ‘OBJECTIVE’ of IFRS 6 is to Specify the financial reporting for the Exploration for and Evaluation of Mineral Resources. IFRS 6 – Exploration for and Evaluation of Mineral Resources | Complete Guide International Financial Reporting Standard 6 Overview Scope Recognition Measurement Impairment Disclosure FAQ § 01 — Introduction What … Read More
The ‘OBJECTIVE’ of IFRS 5 is to specify the ‘Accounting’ for Assets Held for Sale and the ‘Presentation and Disclosure’ of Discontinued Operations. IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations | Complete Guide IASB Standard · Financial Reporting Issued byIASB Effective Date1 January 2005 ReplacesIAS 35 … Read More
The ‘OBJECTIVE’ of IFRS 3 is to Improve the relevance, reliability and comparability of the information that a reporting entity provides in its ‘Financial Statements’ about a Business Combination and its effects. IFRS 3 Business Combinations – Complete Guide 2024 | Accounting Standards International Financial Reporting Standard · IASB Standard … Read More