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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.
Equity method of accounting is used when the parent company owns between 20% and 50% of the outstanding shares of the entity (i.e. Associate). It is an accounting technique to consolidate financial statements of companies where one company has significant influence over another company. Equity method allows the parent company … Read More
The concept associate vs subsidiary explains the ‘Associate’ in which another Co. has a significant ownership stake, and ‘Subsidiary’ that is owned and controlled by another Co. Last Updated – May, 2026 Entrepreneurial Hub Home Accounting Associate vs Subsidiary Corporate Structures · Ownership · Accounting Associate vs Subsidiary A definitive … Read More
The statement of cash flows indirect method presents the SOCF beginning with net income or loss, with subsequent additions to or deductions from that amount for non-cash revenue and expense items, resulting in cash flow from operating activities. International Accounting Standard (IAS 7) states that SOCF is a vital ‘financial statement‘ … Read More
IFRS 15 – Revenue from Contracts with Customers 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. Last Updated – May, 2026 IFRS Standard · Revenue Recognition IFRS 15 – … Read More
IAS 23 – Borrowing Costs 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 … Read More
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 … Read More
FVPL also referred as Fair Value Through Profit and 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. Last Updated – April, 2026 IFRS 9 · Financial … Read More
FVOCI also referred as 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. Last Updated – April, 2026 Home IFRS 9 FVOCI IFRS 9 … 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. Last Updated – April, 2026 IFRS Explained IFRS 15 · Revenue Recognition International Financial Reporting Standard IFRS 15 –The Five‑Step RevenueRecognition … 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. Last Updated – April, 2026 IAS 16 · Financial Reporting · IFRS … Read More