by pieter@pvdz.co.za | Sep 13, 2024 | Financial instruments
In May 2024, the International Accounting Standards Board (IASB) amended IFRS 9 Financial Instruments (‘IFRS 9’). The amendments, among other things, address the classification and measurement of financial assets with contingent features in their...
by pieter@pvdz.co.za | Jun 28, 2024 | Financial instruments, Presentation and disclosure
The IASB published IFRS 18 Primary Financial Statements (‘IFRS 18’) in April 2024. This standard replaces IAS 1, the current standard for presenting financial statements. Entities must apply IFRS 18 to annual reporting periods beginning on or after 1 January...
by pieter@pvdz.co.za | Jan 31, 2024 | Presentation and disclosure
Accounting policies comprise of the specific principles, bases, conventions, rules and practices that an entity applies to prepare and present its financial statements. Entities must disclose their accounting policies in their financial statements. The format and...
by pieter@pvdz.co.za | Oct 5, 2023 | Assets, Expenses, Presentation and disclosure
IFRS requires entities to consider and account for the impairment of assets. This ensures that their carrying amounts do not exceed the economic benefits expected from the asset. Some accounting standards contain specific impairment requirements for assets...
by pieter@pvdz.co.za | Sep 29, 2023 | Financial instruments, Liabilities, Presentation and disclosure
Intuitively, accountants tend to treat shares issued by a company as equity based on their legal form. The classification of the shares by the issuer in terms of IFRS, however, requires a more detailed analysis of their terms. Shares that, in substance, have the...
