IFRS
IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements.
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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 th
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IFRS 6 – Exploration for and Evaluation of Mineral Resources
IFRS 6 outlines the accounting treatment for the mineral resource exploration and evaluation, for mining, oil, and gas companies to recognize related expenses.
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IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations
IFRS 5 offers guidance on the classification, measurement, and disclosure of non-current assets held for sale and discontinued operations. The standard ensures
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IFRS 4 – Insurance Contracts, Scope and Applicability
Overview IFRS 4 is the IASB’s first advice on insurance contract accounting – but not the last. A detailed study of insurance contracts is now being
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IFRS 3 – Business Combinations, Scope and Disclosure Requirements
Overview IFRS 3 Business Combinations describes how an acquirer accounts for the purchase of control of a business (e.g. an acquisition or merger). These busine
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IFRS 2 – Share-Based Payment | Meaning and Scope
IFRS 2 is a standard issued by the International Accounting Standards Board (IASB) that provides guidance on the accounting treatment for share-based payments.
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IFRS 1 — First-time Adoption of IFRSs
IFRS 1 First time Adoption of International Financial Reporting Standards sets out the processes that a company must take when it adopts IFRSs for the first tim
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IFRS Accounting for Revenue Recognition and Long-Term Contracts
Revenue recognition is a crucial aspect of financial reporting, as it provides stakeholders with insights into a company’s financial performance. To ensur
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The Pros and Cons of Adopting IFRS
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board. IFRS has been ado
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GAAP and IFRS: Effects of Globalization
Globalisation has considerably influenced the way accounting is being practised worldwide. The reason for this is that laws are diverse throughout every country