It is often a complex decision to classify an instrument issued by an entity as debt or equity. IAS 32 Financial Instruments - Presentation (‘IAS 32’) governs this classification. The standard provides broad principles as well as detailed guidelines to assist...
IAS 1 Presentation of Financial Statements deals with, amongst others, the classification of assets and liabilities as current and non-current. The requirements to classify liabilities as current or non-current were amended in 2020 (click here for the amendment). The...
It is at the core of accounting for any business activities to identify and report revenue from those activities correctly in the entity’s financial statements. IFRS 15 Revenue from Contracts with Customers (‘IFRS 15’) establishes the principles to account for...
The South African National Treasury announced on 23 February 2022 that the corporate tax rate is reduced from 28% to 27% for years of assessment that end on or after 31 March 2023. One of the accounting questions that stem from this announcement is how companies...
There is a global drive towards renewable energy. In this context, entities have increasingly entered into renewable power purchase agreements (‘PPAs’). These agreements enable funding of the development of medium to long-term investments in renewable energy. They...
Companies use employee share plans (or employee stock ownership plans as they are also called in some jurisdictions) to incentivise key staff members and align their objectives with those of the shareholders of the company. These plans must often be accounted for as...