Here, it will be necessary to assess whether such a change shall be accounted forretrospectively(one-off adjustment) orprospectively(as a “catch-up” adjustment to future revenues), or even asfor a separate contract. As IFRS 15 contains more precise rules than IAS 18, it can trigger the c...
Also, I was thinking about posting a numerical example to illustrate how to implement IFRS 16 under the full approach and under the modified approach – but, it’s a lot of work, so if you are interested, just leave a comment “Yes, publish an example!” Thanks Update after a few days...
I am grateful for many responses and comments I got from you. Almost all e-mails I received from you asked me to publish solved numerical example to see how to implement IFRS 16 in practice. Therefore, unlike in my other usual articles, this time I’ll solve one example with one specifi...
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How to implement IFRS 9 – key points IFRS 9 is about the financial accounting, risk control, regulatory reporting and capital management, which means further impact on the corporate governance and management of credit and market risks. Therefore, aflexible combination of the accounting scheme and ...
Develop a deep understanding of customer behaviour and identify the key drivers of churn. Implement tactics such as personalised engagement, loyalty schemes, and improved customer support to improve customer retention. Update revenue models regularly to reflect churn trends and adjust acquisition and reten...
Implement segregation of duties to make sure that different individuals are responsible for different aspects of the process, such as recording, reconciling, and approving financial transactions. This separation guarantees that multiple sets of eyes review the financial information at different points in ...
Implementation: Run the final review and build a foundation to implement the plan. "Software Bill of Materials is an essential tool in your security and compliance toolbox. They help continuously verify software integrity and alert stakeholders to security vulnerabilities and policy violations.”– ...
They urgently want clarity before tax laws are enacted to implement the rules in some jurisdictions.In January 2023, the IASB published an exposure draft introducing a temporary exception to accounting for deferred taxes arising from the implementation of the Pillar Two model rules....
MEF (Ministry of Economy and Finance) has introducednew tax ruleson commercial gambling companies to implement AML measures and improve transparency. Gambling businesses must comply with International Financial Reporting Standards (IFRS). According toH.E. MeyVann, Secretary of the MEF State, the ...