The Conceptual Framework for Financial Reporting
Update 2019: As the new Framework was issued in 2018, there’s a summary of updated Framework with the new video here on this link. The Conceptual Framework for the Financial Reporting (I will call it just “IFRS Framework”) serves as a pillar on which the…
IAS 39 vs IFRS 9
People are very creative and inventive. So they created and invented numerous kinds of financial instruments. Just admit it—are you really versed well in derivatives, various share options, warrants, certificates, convertible bonds and many others? This area happens to be so complicated and difficult to understand,…
US GAAP vs IFRS
IFRS and US GAAP come closer to each other and the dream was to have a single set of the reporting standards until 2015. Now we know that that dream did not come true and there is still a long way to go. Until then, there…
Top Excel Formulas for IFRS
This is another useful tip I would like to give you. With these formulas, you can really speed up your IFRS accounting process, especially when dealing with sophisticated calculations. So let’s start. Top Financial Formula #1: IRR What is IRR? IRR formula calculates Internal Rate of Return for…
How to Learn IFRS (Part 2)
In the first part of this article, we have learned how to acquire basic knowledge about IFRS and what are pros and cons of face-to face training. Today, we will look to some self-study options and easy accessible sources of news and actual developments in…
How to Learn IFRS (Part 1)
The world has been constantly moving to the single set of global accounting rules. There is a strong ambition to adopt IFRS as a unified set of financial reporting standards all over the planet by 2015. So yes, I understand that accountants and other finance…
What is IFRS?
IFRS stands for International Financial Reporting Standards and it is a set of principles and rules for reporting various transactions and items in the financial statements. Just like United States have their US GAAP, Canada has its Canadian GAAP, United Kingdom has its UK GAAP etc,…
