News Affidea selects Planon to comply with Lease Accounting standard IFRS 16 Affidea Group has selected Planon’s Lease Accounting solution to comply with IFRS 16, the standard replacing IAS 17. Accounting firm KPMG is advising Affidea as skilled implementation partner, ensuring a smooth, compliant...
What is IFRS? IFRS is an acronym for International Financial Reporting Standards. IFRS are a set of accounting rules for the financial statements of public companies. By complying with IFRS, their financial statements are supposed to become consistent, transparent and easily comparable around the worl...
While there are many countries using these standards, the U.S. is not one of them. America uses the GAAP, which encourages different accounting methods than the IFRS. This makes international takeovers and investing more difficult for countries that do not use the GAAP, because the numbers repo...
It seems that the modified retrospective approach to IFRS 16 transition is more popular than the full approach. No wonder. Although the full approach provides more comparable information, it is a way cheaper and easier to apply IFRS 16 using modified approach, despite the fact that it can produ...
While there are many countries using these standards, the U.S. is not one of them. America uses the GAAP, which encourages different accounting methods than the IFRS. This makes international takeovers and investing more difficult for countries that do not use the GAAP, because the numbers repo...
what amount does IFRS 16 Leases require a lessee to measure a right-of-use asset acquired under a lease?A.Lease liability + other direct costs +incentives receivedB.Lease liability - other direct costs - prepaymentsC.Lease liability + other direct costs
Below, we’ll explain how ACCA relates to IFRS 15, what the revenue recognition principles are under ACCA IFRS 15, and how IFRS 15 integrates with other international standards. What’s in this article? What is ACCA and how does it relate to IFRS 15? Revenue recognition principles under ACC...
The originally proposed innovative lease conceptual models are being analysed and compared in perspective of newly accepted IFRS 16. The substantial change of lessee accounting embodied in IFRS 16 has its origin in the proposed single approach by G4+1 in 1996, resp. 2000. The proposal of ...
In the past 15 years, significant discussions concerning the potential repeal of LIFO ("Last-In, First-Out"), whether through US adoption of IFRS or Congressional repeal, and its potentially significant effects on financial reporting and secondary effects in a number of other areas such as contra...
Financial Reporting Standards:Compliance with accounting standards, such as the International Financial Reporting Standards (IFRS) or the Generally Accepted Accounting Principles (GAAP), is crucial in real estate accounting. Adhering to these standards promotes consistency, comparability, and transparency in ...