IFRS 14 – Regulatory Deferral Accounts
Overview IFRS 14 Regulatory Deferral Accounts permits an entity that is a first-time adopter of International Financial Reporting Standards to continue to account, with some limited changes, for ‘regulatory deferral account balances per its previous GAAP, both on initial adoption of IFRS and in subsequent financial statements. Regulatory deferral account balances, and movements in them, […]
IFRS 13- Fair Value Measurement
IFRS 13 – Fair Value Measurement is a standard developed by the IAS that provides guidance on how to measure fair value in financial reporting. The standard aims to enhance the consistency and comparability of financial statements by setting out a single definition of fair value and providing a framework for measuring it. Fair value […]
IFRS 12-Disclosure of Interests in Other Entities
Overview IFRS 12 Disclosure of Interests in Other Entities is a consolidated disclosure standard requiring a wide range of disclosures about an entity’s interests in subsidiaries, joint arrangements, associates and unconsolidated ‘structured entities’. Objective and scope The objective of IFRS 12 is to require the disclosure of information that enables users of financial statements to evaluate: [IFRS […]
IFRS 11 – Joint Arrangements | Overview
International Financial Reporting Standard (IFRS) 11 prescribes the accounting treatment of joint arrangements, which occur when two or more entities have control over an economic activity. The standard is meant to ensure that financial reports clearly show the nature of the collaboration and rights and obligations of each entity participating in it. IFRS 11 categorizes […]