IFRS 9 Financial Instruments | Meaning and Overview
IFRS 9 is a set of international financial reporting standards issued by the International Accounting Standards Board (IASB) that outlines the rules for accounting and reporting of financial instruments. It was first introduced in 2014 and became effective for annual reporting periods beginning on or after January 1, 2018. Reasons to Issue IFRS-9 IFRS 9 […]
IFRS 8 – Operating Segments
Scope IFRS 8 applies to the separate or individual financial statements of an entity (and to the consolidated financial statements of a group with a parent): However, when both separate and consolidated financial statements for the parent are presented in a single financial report, segment information need be shown only on the basis of the […]
IFRS 7 – Financial Instruments: Disclosures
Overview IFRS 7 Financial Instruments: Disclosures require a business to disclose information on the financial instruments’ relevance to the entity and the type and extent of the risks associated with those financial instruments, both qualitatively and quantitatively. The main objective of IFRS 7 is to provide users of financial statements with relevant and reliable information […]