-
IFRS
IFRS 15 – Revenue from Contracts with Customers
IFRS 15 outlines how and when an IFRS reporter would recognise revenue and requires such companies to make more meaningful, relevant disclosures to readers of f
-
IFRS
GAAP and IFRS: Effects of Globalization
Globalisation has considerably influenced the way accounting is practised worldwide. The reason for this is that laws are diverse throughout every country. U.S.
-
Cost Accounting
What is Segment Contribution Margin
The segment contribution margin indicates how much each business segment generates in revenues after meeting variable costs attributable to each segment. This m
-
Financial Accounting Concepts
What Does Mean Substance Over Form?
In accounting, the phrase “substance over form” refers to a preference for the underlying truth of a transaction above its legal form. The accountin
-
Financial Management
What is Financial Performance Measurement?
Financial performance measurement can be defined as a systematic approach to appraise the efficiency of management in an organisation to make profits, increase
-
Financial Accounting Concepts
History of accounting standard setting in Australia
The history of accounting standard setting in Australia has evolved over the years as a function of institutional change and government regulatory efforts. A pr
-
Cost Accounting
Why do variances arise in costing?
Variance in cost accounting is the difference between the actual cost of something and the expected cost of something. For example, a direct material cost varia
-
Cost Accounting
What is Labour Efficiency Variance? Meaning and Example
Labour Efficiency Variance is also known as Labour Time Variance. It is that portion of the Labour Cost Variance which arises due to the difference between the
-
Corporate Accounting
What is the difference between a merger and a demerger?
Businesses rarely remain static; they evolve in response to market pressure, regulatory demands, and strategic ambition. When organisations restructure, two ter
-
Financial Accounting Concepts
Accounting Policies, Selection and Changes in Accounting Policies
Accounting policies are the specific policies and procedures used by a company to prepare its financial statements. These include the methods, measurement syste