Insights

This article looks at the scope of the impairment review (ie the types of assets that are included) and how it is structured (ie the level at which assets are reviewed).

This article explains if and when a detailed impairment test as set out in IAS 36 is required.

This article provides an ‘at a glance’ overview of IAS 36’s main requirements and outlines the major steps in applying those requirements.

This newsletter includes recent changes to SFRS that were issued by ASC in 2020. This publication provides an overview of upcoming changes, explaining the relevant amendments together with effective dates.

Management, with the oversight of those charged with governance, is responsible for the preparation of the financial statements.

There are several accounting considerations the COVID-19 pandemic has triggered in relation to IFRS 9. In our view one of the most significant is in relation to hedge accounting and highly probable cash flows.

Borrowers need to determine the impact of any changes to debt arrangements and then apply the guidance set out in IFRS 9 ‘Financial Instruments’ to determine whether the change is a modification (as

The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.

Granting lease incentives is a common way to encourage a new lessee to sign up to a new lease contract and fill vacant premises. Lease incentives may take various forms depending on the negotiation between the lessee and the lessor.

This article analyses some of accounting considerations that companies need to keep in perspective to avoid potentially undesirable and unforeseen effects on financial statements.

In this volatile environment, any impairment of goodwill and other long-lived assets has the potential to materially reduce reported earnings. While impairment losses provide only a lagging indicator of negative developments, this does not reduce the importance of ensuring that the reported values for goodwill and other intangibles reflect an appropriate value. This includes any impairment in value reflecting the economic impact of COVID-19.

The new leasing standard becomes effective for fiscal years beginning on or after 1 January 2019 and requires all leases to be accounted for 'on balance sheet', a major departure from the requirements of FRS 17 in respect of operating leases.

This article sets out four key areas of your tax provision that could be affected by the impacts of COVID-19.

IFRS 17 'Insurance contracts', currently expected to have an effective date of 1 January 2022, is anticipated to have a significant impact on many aspects of an insurers financial reporting and operational processes.

Solutions for continuous robust compliance

The novel coronavirus (COVID-19) pandemic is spreading around the globe rapidly. Entities need to carefully consider the accounting implications of this situation.