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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.

A common question in board rooms around the world is how well are large and complex companies responding to market and regulatory expectations on the consequences of climate change in their audited financial statements?

IFRS 3 ‘Business Combinations’ contains the requirements for transactions, which are challenging in practice.

A transaction in which a company with substantial operations (operating company) arranges to be acquired by a listed shell company should be analysed to determine how it should be accounted for under IFRS.

This article focuses on reverse acquisitions within the scope of IFRS 3.

Acquisitions of businesses can take many forms and can have a fundamental impact on the acquirer’s operations, resources and strategies.

This article discusses how to estimate an appropriate discount rate in value in use (VIU) calculations.

IAS 36 ‘Impairment of Assets’ is not a new Standard, and while many of its requirements are familiar, an impairment review of assets (either tangible or intangible) is frequently challenging to apply in practice. This is because IAS 36’s guidance is detailed, prescriptive and complex in some areas.

This article discusses estimating future cash inflows and outflows in value in use (VIU) calculations.

This article, covers the definitions of recoverable amount and fair value less costs of disposal (FVLCOD) and provides an overview of value in use (VIU).

The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging.

IFRS 8 ‘Operating Segments’ requires much of management information for public listed entities to be published externally so that investors, analysts and other users of entities’ financial statements can review an entity’s operations from the same perspective as management.

How should you account for costs of configuring or customising a supplier’s application software in a Cloud Computing or Software as a Service (SaaS) arrangement?

Identifying CGUs is a critical step in the impairment review and can have a significant impact on its results.

After the entity identifies its CGUs, it must determine which assets belong to which CGUs, or groups of CGUs.

Identifying cash-generating units (CGUs) is a critical step in the impairment review and can have a significant impact on its results.