by admin | Jul 31, 2017 | Accounting, Tech News
Overview 1.1 Revenue recognition has been a contentious area for financial reporting. 1.2 In the previous revenue standards, there are significant diversity in revenue recognition due to limited guidance: (a) Timing of revenue recognition – whether a company...
by admin | Jul 22, 2017 | Accounting, Tech News
The International Financial Reporting Standards (IFRS) has published illustrative tagging for the proposed IFRS Taxonomy Update IFRS Taxonomy 2017 — IFRS 17 Insurance Contracts. The illustrative tagging shows how selected information from the Illustrative Examples...
by admin | Jun 21, 2017 | Accounting, Tech News
The International Accounting Standard Board (IASB) has proposed narrow-scope amendments to be made to IAS 16 Property, Plant and Equipment to reduce the diversity in application of the Standard. IAS 16 establishes principles for recognising and measuring items of...
by admin | Jun 17, 2017 | Accounting, Tech News
The International Financial Reporting Standards (IFRS) has made available the summary of tentative decisions in the Conceptual Framework for Financial Reporting. In March 2017, the International Accounting Standards Board (IASB) completed deliberations of the Exposure...
by admin | Jun 9, 2017 | Accounting, Tech News
The International Accounting Standards Board (IASB) has issued IFRIC 23 Uncertainty over Income Tax Treatments to specify how to reflect uncertainty in accounting for income taxes. It may be unclear how tax law applies to a particular transaction or circumstance, or...
by admin | May 28, 2017 | Accounting, Tech News
The Singapore Accounting Standards Council (ASC) has submitted a comment letter to the International Accounting Standards Board (IASB) on ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9) which was issued in April 2017. In their...
