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IFRS 9 Financial Instruments has fundamentally reshaped the accounting landscape for financial assets and liabilities, bringing a more principles-based and forward-looking approach. This article delves into the key aspects of IFRS 9, including its scope, classification and measurement, impairment model, hedge accounting, and its implications for the public sector and SMEs. Scope of IFRS 9 […]

This blog summarizes the important ideas related to IFRS 15, “Revenue from Contracts with Customers,” with a particular focus on identifying performance obligations, the concept of distinct goods and services, the nature of licenses, and repurchase agreements. 1. Core Principle and the 5-Step Model: IFRS 15 establishes a comprehensive framework for recognizing revenue from contracts