IFRS 9 Expected Credit Loss Model

IFRS 9 Expected Credit Loss Model IFRS 9 Financial Instruments requires impairment allowance to be recognised based on expected credit losses. What are expected credit losses? Expected credit loss = Exposure at default x Loss given default x Probability of default. The general approach requires an entity to track changes in credit risk. If an [...] Read More

IFRS – A Moving Goal Post

"US$ 3.3 trillion of lease commitments.  Over 85% do not appear on the balance sheet" (Based on a sample of 30,000 listed companies using IFRS or US GAAP) Did you know that IFRS 16 Leases effective for periods beginning on or after 1 January 2019 changes this? It introduces a much-awaited change in the accounting for [...] Read More

Spotlight on IFRS

International Financial Reporting Standards (IFRS) govern the reporting of accounting transactions and events in financial statements. IFRS has become a global financial reporting language in the last 15 years. We now have 130+ countries that prepare IFRS financial statements for their large companies. 5 Key Reasons Why Finance Professionals need to be Updated on IFRS: [...] Read More