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.
IAS 36 – Impairment of Assets 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). Last Updated – May, 2026 IFRS Accounting Standard IAS … 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. Last Updated – May, 2026 Home› Accounting› Derecognition of Financial Assets ● IFRS … Read More
Accounting entries for acquisition of subsidiary involve recording the purchase consideration, identifiable assets and liabilities, and any resulting goodwill or gain on bargain purchase. Last Updated – May, 2026 Financial Reporting · IFRS & GAAP Accounting Entries for Acquisition of Subsidiary A step-by-step guide to journal entries, goodwill calculation, consolidation … Read More
IFRS 15 illustrative examples help explain how the ‘revenue recognition’ standard (IFRS 15) is applied in real-world accounting scenarios. These examples demonstrate the practical application of the five-step revenue recognition model as well, making complex concepts easier to understand. Last Updated – May, 2026 Reference Guide IFRS 15 Illustrative Examples … Read More
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