Accounting

IAS 10 ‘Events After The Reporting Period‘ prescribes when events after the end of the reporting period should be adjusted in the financial statements. ‘Adjusting Events‘ are those providing evidence of conditions existing at the end of the reporting period, whereas ‘Non-Adjusting Events‘ are indicative of conditions arising after the reporting period. … Read More

FVPL (Fair Value Through Profit or Loss) is a key classification under IFRS 9 used for financial assets and liabilities measured at fair value. All gains and losses are recognized directly in “profit or loss”, impacting earnings immediately. Understanding FVPL is essential for accurate financial reporting and effective investment analysis. … Read More

FVOCI (Fair Value Through Other Comprehensive Income) is a classification under IFRS 9 used for certain financial assets. It allows changes in fair value to be recorded in other comprehensive income instead of profit or loss. Understanding FVOCI is essential for accurate financial reporting, investment analysis, and compliance with modern … Read More

IFRS 15 5 Step Model provides a structured framework for ‘Recognizing Revenue from Customer Contracts’. It helps businesses identify obligations, determine transaction prices, and recognize revenue accurately and consistently. By following IFRS 15 5 Step Model, companies can Ensure transparent financial reporting and compliance with international accounting standards. IFRS Explained … Read More

Choosing between a CPA and an actuary career depends on your interests in accounting, finance, and risk analysis. A Certified Public Accountant (CPA) focuses on financial reporting, auditing, and taxation, while an Actuary specializes in risk assessment using mathematics and statistics. Understanding the differences between CPA vs Actuary helps you … Read More

Cost Model vs Revaluation Model are two accounting approaches used under IAS 16 to measure fixed assets after initial recognition. While the ‘cost model’ records assets at historical cost, the ‘revaluation model’ reflects fair value changes over time. Understanding the difference helps businesses choose the right method for accurate financial … Read More

IFRS 9 is a key accounting standard that governs the classification, measurement, and impairment of financial assets and liabilities. It introduces the ‘expected credit loss model’, improving how businesses recognize risk and report financial performance. Understanding IFRS 9 is essential for accurate financial reporting and compliance in modern accounting. IASB … Read More

IAS 23 requires that borrowing costs DIRECTLY attributable to the acquisition, construction or production of a ‘Qualifying Asset’ (one that necessarily takes a substantial period of time to get ready for its intended use or sale) are included in the cost of the asset. Other borrowing costs are RECOGNIZED as … Read More

A Basic Earnings Per Share Calculator helps investors and businesses quickly ‘measure profitability‘ on a per-share basis. By dividing net income by the weighted average number of outstanding shares, this tool provides a clear view of financial performance. It’s essential for comparing companies and making informed investment decisions. Learn how … Read More

IAS 16 STATES that Property, plant and equipment is Initially Measured at its cost, Subsequently Measured either using a ‘cost or revaluation model‘, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life. International Accounting Standard 16 📘 IAS 16 🌐 IFRS  ·  IASB … Read More