This article brings to you the 10 key takeaways on IAS 38 Intangible Assets that entities need to pay attention when they account for such assets.
Factsheet
Posted inFinancial Accounting
Factsheet Series: 9 key takeaways on IAS 40 Investment Property
This article brings to you 9 key takeaways or consideration when entities account for their investment property in accordance with IAS 40.
Posted inFinancial Accounting
Factsheet Series: IAS 16 Property, Plant and Equipment
PPE continue to be an important assets to any businesses. This article summarises 10 key takeaways on the accounting requirements for PPE under IAS 16.
Posted inFinancial Accounting
Factsheet Series: IFRS 16 Leases – The lessee perspective
In this article, we bring to you IFRS 16 Leases from the lessee perspective. IFRS 16 was issued by the International Accounting Standards Board (“IASB”) in January 2016. IFRS 16 replaces the previous lease standard, IAS 17 Leases with significant changes made on the accounting treatment for lease transactions for lessees. The accounting requirements for […]
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Factsheet Series: IAS 2 Inventories
Inventories are one of the critical assets in any business. What is inventory? IAS 2 Inventories provides a specific definition of inventories which is defined as assets that are: Held for sale in the ordinary course of business; In the process of production for such sale; or In the form of materials or supplies to […]
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Factsheet Series: IAS 37 Provisions, Contingent Liabilities and Contingent Assets
In this article, we summarises the financial reporting requirements under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
Posted inFinancial Accounting
Factsheet Series: IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
In the preparation of the financial statements, entities apply various judgements in the area of accounting estimates and accounting policies to account for the effect of transactions, conditions and events in the financial statements. Financial statements prepared must also faithfully represent the effects of transactions, conditions and events. When errors are identified in the financial […]