Insights

This article focuses on part of this step; recognition of impairment losses. For reversing impairment losses refer to our article ‘Insights into IAS 36 – Reversing impairment losses’.

This article discusses when there are exceptions to the rule of comparing recoverable amount with carrying amount, which is step 5 in the impairment review process.

SGX’s framework for Special Purpose Acquisition Companies provides companies an alternative route to raise capital. But SPAC transactions can give rise to unique financial reporting and accounting issues under Singapore Financial Reporting Standards (International) (SFRS(I)s). In this piece, we break down what a SPAC is and key accounting considerations in SPAC transactions.

The final part of this series on Step 4 of the impairment review on estimating the recoverable amount, discusses how to estimate an appropriate discount rate in value in use (VIU) calculations.

Definitions of recoverable amount and fair value less costs of disposal (FVLCOD) and an overview of value in use (VIU).

In our three-part series on Step 4 of the impairment review on estimating the recoverable amount, this article discusses estimating future cash inflows and outflows in value in use (VIU) calculations.

The second of a three-part series on cash-generating units (CGUs), this article discusses how to allocate assets to CGUs.

The third of a three-part series on cash-generating units (CGUs), this article discusses how to allocate goodwill to CGUs.

In this article, we discuss how to identify cash-generating units (CGUs).

This newsletter highlights IAS and IFRS amendments, proposed amendments, and decision points that have been released from April 2021 to October 2021.

This amendment was released on 12 February 2021 by the IASB. This amendment helps entities to distinguish between accounting policies and accounting estimates. This article is part of our IFRS technical updates newsletter.

In the October 2021 meeting, the IASB deliberated on the proposed amendment aiming at companies to improve usefulness of the comparative information presented on initial application of IFRS17 and IFRS 9. This article is part of our IFRS technical updates newsletter.

This amendment was released by the IASB on 7 May 2021. This amendment looks at the deferred tax related to assets and liabilities arising from a single transaction. This article is part of our IFRS technical updates newsletter.

In the April 2021 meeting, the IASB proposed amendments setting out accounting for when no foreign exchange rate exists. This amendment aims to help companies determine whether a currency can be exchanged into another currency, and what accounting to apply if the currency cannot be exchanged. This article is part of our IFRS technical updates newsletter.

The IFRS Interpretations Committee decided to finalise an agenda decision that includes the material explaining how IFRS principles are applied to the fact pattern submission. This article is part of our IFRS technical updates newsletter.

We are pleased to share Example consolidated financial statements 2021 to assist you in your preparation of your financial statements inline with the latest International Financial Reporting Standards (IFRS) changes.