Financial Accounting

Understand the financial reporting differences in relation to provisions, contingent liabilities and contingent assets under MPSAS 19, MFRS 137 and Section 21 of MPERS.

Provisions, Contingent Liabilities and Contingent Assets: Comparison between MPSAS 19, MFRS 137 and Section 21 of MPERS

by THEACCSENSE August 13, 2021January 2, 2023

The article compares the requirements for provisions, contingent liabilities and contingent assets under MPSAS 19, MFRS 137 and Section 21 of MPERS.

Financial Accounting

Agriculture: Comparison between MPSAS 27, MFRS 141 and Section 34 of MPERS

by THEACCSENSE August 6, 2021January 2, 2023

Understand the differences on how preparers account for agriculture activity between MPSAS 27, MFRS 141 and Section 34 of MPERS.

Understand the comparison of the financial reporting requirements for investment property under MPSAS 16, MFRS 140 and Section 16 of MPERS.

Financial Accounting

Investment Property: Comparison between MPSAS 16, MFRS 140 and Section 16 of MPERS

by THEACCSENSE August 5, 2021January 2, 2023

The article provides a comparison on the financial reporting requirements for investment property under MPSAS 16, MFRS 140 and Section 16 of MPERS.

Understand the comparison of the financial reporting requirements for property, plant and equipment under MPSAS 17, MFRS 116 and Section 17 of MPERS.

Financial Accounting

Property, Plant and Equipment: Comparison between MPSAS 17, MFRS 116 and Section 17 of MPERS

by THEACCSENSE August 4, 2021January 2, 2023

The article provides a comparison on the accounting treatment for property, plant and equipment under MPSAS 17, MFRS 116 and Section 17 of MPERS.

Understand the differences on the presentation of financial statements under MPSAS, MFRS and MPERS.

Financial Accounting

Presentation of Financial Statements: Comparison between MPSAS, MFRS and MPERS

by THEACCSENSE July 29, 2021January 2, 2023

A comparison of the financial reporting requirements in MPSAS, MFRS and MPERS relating to the presentation of financial statements.

Understand the significant differences on the accounting for employee benefits under MPSAS 25, MFRS 119 and Section 28 of MPERS.

Financial Accounting

Employee Benefits: Comparison between MPSAS 25, MFRS 119 and Section 28 of MPERS

by THEACCSENSE July 21, 2021January 2, 2023

The article discusses the significant differences on the accounting requirements for employee benefits under MPSAS 25, MFRS 119 and Section 28 of MPERS.

Understand how entities account for defined benefit plans for post-employment benefits given to employees.

Financial Accounting

Factsheet Series: Accounting for Defined Benefit Plan

by THEACCSENSE July 19, 2021January 2, 2023

Lets understand how entities account for defined benefit plans given to employees as part of their post-employment benefits.

The accounting for employee benefits depends on the benefits provided by the entities.

Financial Accounting

Factsheet Series: Accounting for Employee Benefits

by THEACCSENSE July 16, 2021January 2, 2023

Understand how entities should account for their employee benefits. The accounting for short-term benefits are rather straight-forward. Entities should focus on the accounting for the tricker part – post-employment benefits.

Fair value reflects the price that would be received to sell an asset or paid to transfer a liability.

Financial Accounting

Factsheet Series: IFRS 13 Fair Value Measurement

by THEACCSENSE July 12, 2021January 2, 2023

Understand the principles in fair value measurement of assets and liabilities in this article. It also provides readers with the summary of the required disclosures relating to fair value of assets and liabilities.