by Noorjahan S. Yargatti | Apr 28, 2020 | English Topics, Uncategorized
The Transfer of business going concern rules are mandatory, so it is important to determine if the business is being sold as an ongoing business. There are two methods of transfer of business has been described one is transfer through sale of shares and another is...
by Noorjahan S. Yargatti | Apr 27, 2020 | English Topics, Uncategorized
IAS 37 seeks to ensure that reasonable identification requirements and calculation frameworks are applied to contracts, contingent liabilities and contingent assets and that appropriate information is reported to the financial statements in the notes to allow users to...
by Noorjahan S. Yargatti | Apr 27, 2020 | English Topics, Uncategorized
At initial level all financial instruments are calculated at fair value plus or minus under IFRS 9. The financial assets and liability not at fair value through profit or loss. Transaction costs. This requirement is consistent with IAS 39. Classification on assets...
by Noorjahan S. Yargatti | Apr 27, 2020 | English Topics, Uncategorized
The main objective of IAS 7 is to allow the presentation of information on the historical changes in an entity’s cash and cash equivalents by means of cash flow statement. Which classify cash flows during the period according to operating, investing, and financing...
by Rafaqat Ali Khan | Apr 23, 2020 | English Topics, Uncategorized
Investment property is land or a building (including part of a building) or both that is: held to earn rentals or for capital appreciation not owner-occupied not used in production or supply of goods and services or for administration not held for sale in the ordinary...
by Rafaqat Ali Khan | Apr 23, 2020 | English Topics, Uncategorized
Purchase Consideration The purchase consideration is including the fair value of all interests that the acquirer may had held previously in acquired company. This includes any interest in an associate company or joint venture company, or other equity interests of the...
by Noorjahan S. Yargatti | Apr 23, 2020 | English Topics, Uncategorized
Intangible assets definition: an identifiable non-monetary asset without physical substance. An asset is a resource that is controlled by the entity as a result of past events (for example purchase, or self-creation) and from which future economic benefits (inflow of...
by Syed Nasr | Apr 23, 2020 | English Topics, Uncategorized
IFRS stands for international financial reporting standards. It is a set of accounting rules and standards that determine how accounting events should be reported in your businesses’ financial statements. IFRS make financial statements consistent, comparable, and...
by Syed Nasr | Apr 23, 2020 | English Topics, Uncategorized
Chart of Accounts is a list of accounts which should be designed by the accountant of the company taking into consideration of the nature of a business. It is very useful tool to categorize the accounting data in to different class of accounts and to generate...
by Noorjahan S. Yargatti | Apr 23, 2020 | English Topics, Uncategorized
There are two main types of liquidations for insolvent companies– compulsory liquidation and creditor’s voluntary liquidation (CVL). When the companies all assets are sold to repay its creditors, business closes down, and its name is removed from the register at...
Recent Comments