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.
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. IFRS Explained IFRS 15 · Revenue Recognition International Financial Reporting Standard IFRS 15 –The Five‑Step RevenueRecognition Model A definitive, practical guide … 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. IAS 16 · Financial Reporting · IFRS Cost Model vs Revaluation Model … 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. IASB Standard · Effective 2018 StandardIFRS 9 Issued byIASB Effective Date1 Jan 2018 ReplacesIAS 39 … 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
The concept Provision Vs Contingent Liability DESCRIBES that ‘Provision‘ is a liability that is recognized in the financial statements when a company has a probable obligation or a present obligation and ‘Contingent Liability‘ is a potential liability that may arise from past events but is uncertain in terms of its … Read More
IFRS 15 Vs ASC 606 are the Primary Revenue Recognition standards used globally. While both frameworks follow a similar Five-Step Model for recognizing revenue, subtle differences in application, disclosure, and guidance can affect financial reporting. Understanding the Key Distinctions of the concept IFRS 15 Vs ASC 606 helps businesses ensure … Read More
A Sublease occurs when a Tenant (the ‘Original Lessee’) rents out all or part of the leased property to another party, known as the Sublessee, while still remaining responsible to the original landlord. The original lease between the landlord and the tenant continues to exist, and the tenant acts as … Read More
The Going Concern Concept ENSURES Financial Statements reflect the assumption that the business will continue to operate in the foreseeable future. It is based on the idea that Co. ‘Financial Statements’ should REFLECT its ability to Meet its obligations and continue operating as a viable business entity. Accounting & Auditing … Read More
IFRS 18 introduces a New framework for presenting and disclosing information in financial statements, replacing parts of IAS 1. It aims to improve the Clarity, Consistency, and Comparability of ‘Financial Performance Reporting’ across companies. IASB Standard — Issued April 2024 Replaces IAS 1 Effective Date 1 Jan 2027 Early Adoption … Read More
Lease Modification, as per IFRS 16 refers to CHANGES made to the terms and conditions of a lease contract after its inception. These changes can result from negotiations between the LESSOR and the LESSEE or due to changes in laws and regulations. For example, lease modifications include changes in ‘Lease … Read More