Month: April 2021

IAS 10 – EVENTS AFTER REPORTING DATE OBJECTIVE To prescribe: When an entity should adjust its financial statements for events after the reporting period; and The disclosures that an entity should give about the date when the financial statements were Read More …

TECHNICAL ARTICLES Following are some important technical articles provided by the examining team of SBR. These are very important from exam point of view. MEASUREMENT GIVING INVESTORS WHAT THEY NEED THE DEFINITION AND DISCLOSURE OF CAPITAL CONCEPTS OF PROFIT OR Read More …

IAS 24 – RELATED PARTY TRANSACTIONS OBJECTIVE The objective of this Standard is to ensure that an entity‘s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have Read More …

IAS-20 ACCOUNTING FOR GOVERNMENT GRANTS AND DISCLOSURE OF GOVERNMENT ASSISTANCE OBJECTIVE To prescribe the accounting for, and disclosure of, government grants and other forms of government assistance. SCOPE IAS 20 applies to all government grants and other forms of government Read More …

CURRENT DEVELOPMENTS This Chapter includes topics currently under debate and all recent changes and standards issued by the IASB. The following have been incorporated in the chapter: Practice Statement Management Commentary IFRS 1 First Time Adoption of International Financial Reporting Read More …

IAS 21 – THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES OBJECTIVE The objective of this Standard is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate Read More …

THE IASB’S PRINCIPLES OF DISCLOSURE INITIATIVE The International Accounting Standards Board (IASB) has published a comprehensive discussion paper (DP) setting out the Board’s preliminary views on disclosure principles that should be included in a general disclosure standard or in or Read More …

IAS 7-STATEMENT OF CASH FLOWS Group: Statement of Cash Flows OBJECTIVE The objective of this Standard is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement Read More …

IAS 28 – INVESTMENTS IN ASSOCIATES SCOPE This Standard shall be applied in accounting for investments in associates.   DEFINITIONS The following terms are used in this Standard with the meanings specified:- An associate is an entity, including an unincorporated Read More …

IAS 33 – EARNINGS PER SHARE INTRODUCTION Earnings Per Share (EPS) is an unusual accounting ratio in that it has a whole standard devoted to its calculation and presentation. The importance attached to this ratio derives from the fact that Read More …