Accounting

Amendments to MFRS 116 Property, Plant and Equipment: Proceeds before Intended Use

by THEACCSENSE April 13, 2021January 2, 2023

Learn how the amendments to MFRS 116 Property, Plant and Equipment clarify the treatment relating to proceeds received before intended use.

The amendments to the principles of current or non-current of financial liabilities will potentially change entities’ current practises and the classification of financial liabilities in the financial statements.

Financial Accounting

Classification of Financial Liabilities in MFRS 101: What will change?

by THEACCSENSE April 13, 2021January 2, 2023

Find out how classification of financial liabilities will change in the financial statements following the amendments to MFRS 101.

IFRIC Agenda Decision provides explanatory material that may change the practices and accounting policies of entities applying IFRS/MFRS.

Financial Accounting

IFRIC Agenda Decision: How Does It Affect You?

by THEACCSENSE April 12, 2021January 2, 2023

IFRIC Agenda Decision is a document issued by the IFRS Interpretations Committee (“IFRIC”). What is IFRIC? IFRIC is an interpretive committee of the International Accounting Standards Board (“IASB”). The function of the IFRIC is to deliberate, respond, and provide a recommendation on issues submitted to the committee regarding the application of the accounting standards issued […]