by pieter@pvdz.co.za | Apr 18, 2025 | Assets, Expenses, Financial instruments, Income, Liabilities, Presentation and disclosure
Entities without public accountability may apply the International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs). This is a set of accounting standards based on full IFRS with various simplifications. The IASB performed...
by pieter@pvdz.co.za | Jan 20, 2025 | Financial instruments
Arrangements for electricity procurement vary in how they match electricity production from natural sources with usage. The IASB identified that applying the own-use exemption in IFRS 9 to such arrangements posed certain challenges. This prompted narrow-scope...
by pieter@pvdz.co.za | Sep 15, 2024 | Presentation and disclosure
The International Accounting Standards Board (IASB) published IFRS 19 Subsidiaries Without Public Accountability: Disclosures (‘IFRS 19’) in May 2024. This standard provides relief for subsidiaries without public accountability whose parent companies...
by pieter@pvdz.co.za | Sep 13, 2024 | Liabilities, Presentation and disclosure, Uncategorized
As the importance of climate-related commitments grows in the corporate sector, questions arise regarding their accounting treatment under IFRS. The IFRS Interpretations Committee (IFRIC) received a submission requesting clarification on how IAS 37 applies to...
by pieter@pvdz.co.za | Sep 13, 2024 | Assets, Expenses
IFRS 3 Business Combinations (‘IFRS 3’) governs how entities account for the acquisition of businesses. One element of this is identifying the consideration paid for the acquired business. The IFRS Interpretations Committee (‘IFRIC’) recently issued a decision...
