IFRS MEANING

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Non-current assets list IFRS

Current assets list IFRS

In this post, we will show a series of non-current assets.   Paragraph 66 of IAS 1 set out a series of requires to identify a current asset.   All

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Biological assets examples

Biological assets examples

Below you will find a series of examples that correspond to biological assets, an asset with these characteristics is a living animal or a plant.   Agricultural produce harvested from

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Revenue accounting principle IFRS 15

Revenue accounting principle IFRS 15

Revenue recognition in IFRS 15 is based on the 5-step application principle:    Identification of the contract with the customer.   Identification of performance obligations in the contract.   Determining

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contingent assets meaning

Contingent assets meaning

A contingent asset is a possible inflow of economic benefits to an entity, which should not be recognized in the financial statements, but should be disclosed in the notes. IAS

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Accounting recognition of equity method

The equity method is a process used in international financial reporting standards to recognize the investment in an entity that own a significant influence over another company. The accounting recognition,

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Current assets list IFRS

In this post, we will show a series of non-current assets.   Paragraph 66 of IAS 1 set out a series of requires to identify a current asset.   All those assets that do not have these characteristics will be

Current assets list IFRS

Below you will find a list of current assets according to IFRS. Remember that paragraph 66 of IAS 1 set out that an entity will classify an asset as current when: It expects to realise the asset, or intends to

Associate in ifrs

An associate is an entity over which another company exercises significant influence. Significant influence is the power to participate in the financial and operating policy decisions of an associate, without having control or joint control. An entity may exercise significant

Exchange assets accounting recognition

Exchange assets is the exchange of one or more non-monetary assets, or a combination of monetary and non-monetary assets. In this article, we will refer to non-monetary assets. The following diagram shows the way in which exchange assets should be

Acquiree definition in ifrs

An acquiree is one or more businesses that are controlled by an acquirer, in a business combination. For example, company A acquires 90% of the interest of entity B. In this case, entity A, is known as the acquired company

Deemed cost in IFRS

The deemed cost is a substitute cost, which is used in the recognition of property, plant and equipment, or intangible assets, in the application of international financial reporting standards for the first time.   That is, when an entity reports