Entities without public accountability may apply the International Financial Reporting Standards for Small and...
Amendments to IFRS for SMEs
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Liabilities
Accounting for Climate-Related Commitments
As the importance of climate-related commitments grows in the corporate sector, questions arise regarding their...
Shares issued: Are they debt or equity?
Intuitively, accountants tend to treat shares issued by a company as equity based on their legal form. The classification of the...
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...
Classification of liabilities: Loan covenants
Financial statements distinguish between current and non-current assets and liabilities. Assets are classified on, amongst...