Category Archives: IFRS

FYI Article – IFRS 15: The New Revenue Standard – An Extra Year to Get Ready!

IFRS update

January 2016: as reported by The Standard. The New Revenue Standard In September 2015, the International Accounting Standards Board (IASB) deferred the effective date of IFRS 15 Revenue from Contracts with Customers by one year to provide entities with more time for implementation.   The standard is now effective for annual periods beginning on or after January 1, 2018.  Comparatives are required

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Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

accounting update

IASB Exposure Draft – Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Proposed Amendments to IFRS 4) The IASB has issued an Exposure Draft proposing amendments to IFRS 4 Insurance Contracts. Canadian stakeholders are encouraged to submit their comments to the IASB by February 8, 2016. Comment on this document today! is holding a: Buy One-Get One Free

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IFRS: So many choices…. How do you decide?

The following is taken from Mike Morley’s latest book “IFRS Simplified” IFRS: So many choices…. How is the accountant supposed to decide? International Financial Reporting Standards employ four key principles as guidelines to making decisions regarding which accounting treatment to apply in a particular situation.   Should the asset be classified as available-for-sale or as available-for-use? Should the value assigned

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IFRS 3 – Accounting for Business Combinations

Speaker at Business Conference and Presentation. Audience at the conference hall.

With merger and acquisition activity at an all-time high, accountants have to know how to apply IFRS 3 – Business Combinations. They are expected to know the rules for integrating the acquired company’s assets, liabilities and equity, and how to assign fair values to them, advise management on the choice of options offered by this standard, include all of the

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