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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
Cash settled share-based payments include the transactions in which the entity acquires goods or services by incurring liability to transfer cash or other assets to the supplier of those goods or services for amounts that are based on the price (or value) of ‘equity instruments’ (including shares or share options) … Read More
The one difference amongst many of IFRS 9 vs IAS 39 concept is the key difference in relation to the approach of impairment. IFRS 9 uses ‘Expected Credit Losses‘ (ECLs) to recognize impairment losses on financial assets, as compared to IAS 39 ‘Incurred Losses’. Last Updated – March, 2026 Financial … Read More
The objective of IFRS 14 – Regulatory Deferral Accounts is to specify the financial reporting requirements for ‘regulatory deferral account balances’ that arise when an entity provides goods or services to customers at a price or rate that is subject to rate regulation. Last Updated – March, 2026 IASB International … Read More
IFRS 13 – Fair Value Measurement: Last Updated – March, 2026 IFRS Standard · IASB IFRS 13 – Fair Value Measurement The definitive guide to understanding fair value measurement under International Financial Reporting Standards, from the three-level hierarchy to disclosure obligations. Effective Since 1 Jan 2013 Issued By IASB Reading … Read More
The objective of IFRS 12 – Disclosure of Interests in Other Entities is to require an entity to ‘disclose‘ information that enables users of its financial statements to evaluate: Last Updated – March, 2026 IASB International Financial Reporting Standard IFRS 12 – Disclosure of Interestsin Other Entities A comprehensive reference … Read More
The objective of IFRS 11 – Joint Arrangements is to establish principles for ‘financial reporting’ by entities that have an interest in arrangements that are controlled jointly (i.e. joint arrangements). Last Updated – March, 2026 International Financial Reporting Standards IFRS 11 – Joint Arrangements CA Written by Jhanzayb ACA Qualified … Read More
The ‘OBJECTIVE’ of IFRS 5 is to specify the ‘Accounting’ for Assets Held for Sale and the ‘Presentation and Disclosure’ of Discontinued Operations. IASB Standard · Financial Reporting Issued byIASB Effective Date1 January 2005 ReplacesIAS 35 CategoryNon-current Assets Table of Contents 01Overview of IFRS 5 02Scope & Applicability 03Classification as … Read More
The ‘OBJECTIVE’ of IFRS 3 is to Improve the relevance, reliability and comparability of the information that a reporting entity provides in its ‘Financial Statements’ about a Business Combination and its effects. IFRS 3 Business Combinations – Complete Guide 2024 | Accounting Standards International Financial Reporting Standard · IASB Standard … Read More
The ‘OBJECTIVE’ of IFRS 2 is to Specify the ‘financial reporting’ by an entity when it undertakes a share‑based payment transaction. In particular, it requires an entity to reflect in its profit or loss and financial position the effects of share‑based payment transactions, INCLUDING expenses associated with transactions in which … Read More