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
IFRS 13: IFRS Standard · IASB Effective Since 1 Jan 2013 Issued By IASB Updated March 2025 Overview Objective Fair Value Hierarchy Key Principles Measurement Process Disclosures Scope FAQ What is IFRS 13? IFRS 13 Fair Value Measurement is an International Financial Reporting Standard issued by the International Accounting Standards … Read More
The Objective of IFRS 12 is to require an entity to ‘Disclose‘ information thatenables users of its financial statements to evaluate: IASB International Financial Reporting Standard Effective: Jan 2013 Issued by IASB Contents 01Overview & Background 02Objective of IFRS 12 03Scope & Exclusions 04Key Definitions 05Disclosures – Subsidiaries 06Joint Arrangements … 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). International Financial Reporting Standards Effective from 1 January 2013 Replaces IAS 31 Last Updated Feb 2025 Overview Scope Types Classification Accounting Disclosures vs IAS 31 … 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 Standards · Financial Reporting Issued: May 2011 Effective: 1 Jan 2013 Standard Body: IASB Supersedes: IAS 27 (2008) Contents 01 Overview & Objective 02 … Read More
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. IASB Standard · Effective 2018 StandardIFRS 9 … 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. ↑ International Financial Reporting Standards IASB Standard … Read More
The ‘OBJECTIVE’ of IFRS 7 is to Require entities to provide disclosures in their Financial Statements that enable users to evaluate: 📋 IFRS Standard IFRS 7 Financial Instruments:Disclosures Issued By IASB Effective Date 1 Jan 2007 Last Major Amendment 2023 Replaces IAS 30 & IAS 32 (part) In This Guide … Read More