At Entrepreneurial Hub, our Accounting category delivers expert-driven, practical insights tailored for students, professionals, and business owners. Authored by a “Qualified Chartered Accountant”, having deep expertise in International Financial Reporting Standards (IFRS/IAS/IFRIC/SIC), Financial Analysis, Technology & Data-Driven Accounting, and Financial Reporting & Compliance.
We simplify complex accounting concepts into clear, actionable knowledge helping you stay compliant, make informed financial decisions, and adapt to evolving global standards. Whether you’re mastering core principles or exploring advanced reporting frameworks, our content is built on real-world experience and professional accuracy.
Lessor accounting focuses on how asset owners recognize lease income, classify leases, and report financial performance. It involves distinguishing between finance and operating leases, each with different recognition and measurement approaches. Accounting Standards Reference Entrepreneurial Hub Home › Accounting › Lessor Accounting Lease Accounting · IFRS 16 · ASC 842 … Read More
The objective of IAS 40 is to prescribe the accounting treatment for investment property and related disclosure requirements. Skip to content Entrepreneurial Hub IFRS Standard IAS 40 – Investment Property A definitive guide to IAS 40: understanding its scope, recognition criteria, measurement models, transfers, and disclosure requirements under International Financial Reporting Standards. … Read More
Provision in accounting a Concept as per IAS 37 represent a company’s estimated liabilities or obligations, which are recognized in financial statements as an expense and liability. Provisions are typically created when there is uncertainty about the amount or timing of a liability, but the company has a legal or … Read More
The concept consolidated vs unconsolidated financial statements depicts that Consolidated FS reflect the financial statements of parent company and its subsidiaries as a single economic entity and Unconsolidated FS reflect the financial statements of a single entity. Financial Reporting Accounting Standards Corporate Finance Consolidated vs Unconsolidated Financial Statements A definitive … Read More
IAS 16 states that property, plant and equipment (PPE) 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 IAS 16 – Property, Plantand Equipment The … Read More
IAS 17 vs IFRS 16 a concept that relates to leasing. IAS 17 is the International Accounting Standard (IAS) for leases that was issued by the International Accounting Standards Board (IASB) in 1982, while IFRS 16 is the new leasing standard that was issued by the IASB in 2016. Entrepreneurial … Read More
Reversal of impairment loss is increasing the value of a previously impaired asset when there is a change in circumstances indicating that the impairment loss is no longer necessary. Home Accounting Reversal of Impairment Loss IAS 36 – Impairment of Assets · Reference Guide Reversal of Impairment Loss When assets … Read More
IAS 36 explains the concept of impairment of assets which states that an entity’s assets are not carried at more than their recoverable amount (i.e. the higher of fair value less costs of disposal and value in use). IFRS Accounting Standard IAS 36 – Impairment of Assets Issued by IASB / … Read More
FVOCI vs FVTPL a concept which describes the key classification categories under IFRS 9 that determine how financial assets are measured and reported. While FVOCI records value changes outside profit or loss, FVTPL directly ‘impacts earnings‘. Understanding the difference between FVOCI and FVTPL is essential for accurate financial reporting and … Read More
Derecognition of financial assets refers to removing a financial asset from the balance sheet when the contractual rights to cash flows expire or are transferred. Under IFRS 9, businesses must assess risks, rewards, and control before derecognition. Home› Accounting› Derecognition of Financial Assets ● IFRS 9 · IAS 39 · … Read More