IFRS 3 Business Combinations (‘IFRS 3’) governs how entities account for the acquisition of businesses. One element of...
Business combinations: Post-acquisition payments to sellers
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Assets
Disclosure of impairment
IFRS requires entities to consider and account for the impairment of assets. This ensures that their carrying amounts...
Accounting for Pillar Two of BEPS 2.0
The OECD/G20 developed Global Anti-Base Erosion (‘GloBE’) model rules in Pillar Two of BEPS 2.0 to address...
Rent forgiveness: Impairment, derecognition or modification?
In October 2022 the IFRS Interpretations Committee (“IFRIC’) published an agenda decision on accounting for rent...
Accounting for power purchase agreements in terms of IFRS
There is a global drive towards renewable energy. In this context, entities have increasingly entered into renewable power...
Accounting for VAT on leases
The accounting treatment of VAT was considered by the IFRS Interpretations Committee (the IFRIC) during some of its meetings in...