Understanding International Financial Reporting Standards
IFRS stands for International Financial Reporting Standards and it is a set of principles and rules for reporting various transactions and items in the financial statements. Earlier…
The Fairness of the Fair Value Concept
The concept of Fair value The use of Fair value in Accounting Standards has been increasing in the recent years. But it is first important…
Understanding IAS 16: Property, Plant and Equipment
Introduction IFRS adoption: A country adopting IFRS is implementing IFRS into itslegislation in exact form as issued by IASB. Most of the countries adopted IFRS,rather…
IFRS adoption and IFRS convergence : CARVE OUTS
Although IFRS has already become the need of the hour, confusion still prevailsover the difference between IFRS adoption and IFRS convergence. So let’sclarify: IFRS adoption:…
Dealing with “GRANTS”
IAS 20 distinguishes between two main types of grants: grants relating to income and grants relating to assets. Government grants should only be recognised in…
Career Opportunities in International & Financial Reporting Standards (IFRSs)
The finance and accounting profession is emerging as a fast growing profession. In this globalized era, national General Accepted Accounting Principles (GAAP) is becoming rare…
