This briefing document provides a detailed review of the main themes and important ideas or facts related to IFRS 10 Consolidated Financial Statements, as derived from the provided sources. 1. Core Principle: Control The central tenet of IFRS 10 is the concept of control. An investor controls an investee when it meets all three of […]

Executive Summary: IFRS 12 “Disclosure of Interests in Other Entities” is a crucial International Financial Reporting Standard (IFRS) that consolidates and enhances disclosure requirements for an entity’s interests in subsidiaries, joint arrangements, associates, and unconsolidated structured entities. Its primary objective is to improve transparency for users of financial statements, particularly following the 2007 global financial

This document offer a comprehensive overview of IFRS 8 Operating Segments, its implementation, and ongoing discussions surrounding its application and potential amendments. The core principle of IFRS 8 is to “disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and

1. Executive Summary IFRS 19 “Subsidiaries without Public Accountability: Disclosures” is a new, voluntary International Financial Reporting Standard (IFRS Accounting Standard) issued in May 2024 by the International Accounting Standards Board (IASB). Its primary objective is to simplify financial reporting and reduce costs for eligible subsidiaries by allowing them to apply IFRS Accounting Standards for

Executive Summary IFRS 6, “Exploration for and Evaluation of Mineral Resources,” provides specific financial reporting guidance for expenditures incurred during the exploration and evaluation (E&E) phase of mineral resources. It aims to offer “limited improvements to existing accounting practices” for these expenditures, particularly concerning asset recognition, impairment testing, and required disclosures. The standard applies to

The International Public Sector Accounting Standards Board (IPSASB) issued Exposure Draft 79 (ED 79) in April 2021, proposing improvements to financial reporting for non-current assets held for sale and discontinued operations in the public sector. This draft standard is largely based on IFRS 5, “Non-current Assets Held for Sale and Discontinued Operations,” issued by the

This briefing document provides a comprehensive overview of IFRS 2 Share-based Payment, drawing on various sources to highlight key themes, important ideas, and factual information, including direct quotes where appropriate. 1. Introduction to IFRS 2 Share-based Payment IFRS 2, issued in 2004, addresses the accounting for share-based payment transactions, which involve an entity receiving goods

Fair Value Measurement (FVM) under IFRS 13 is a comprehensive framework that standardizes fair value measurement and disclosure requirements. Developed jointly by the IASB and FASB, it aims to enhance comparability and simplify financial reporting across IFRS and US GAAP. 1. Core Definition and Measurement Objective: 2. Scope of IFRS 13: 3. Key Concepts in

This briefing document summarizes the main themes and important ideas from the provided sources related to IAS 36, Impairment of Assets. The sources cover various aspects of the standard, including its scope, the process of impairment testing, the determination of recoverable amount, the concept of cash-generating units (CGUs), and practical considerations in applying the standard.

This briefing document summarizes the main themes and important ideas from the provided sources regarding International Accounting Standard (IAS) 27, “Separate Financial Statements.” The sources include the standard itself, interpretations, basis for conclusions, discussion papers, fact sheets, and case studies related to IAS 27 and its interaction with other accounting standards. 1. Objective and Scope