What is and why IFRS? International Financial Reporting Standards (IFRS): IFRS is a financial reporting framework that is reliable, transparent, and can be comparable across the other companies around the globe. Prior to IFRS, every country had different Generally Accepted Accounting Principles (GAAP) i.e., financial reporting framework for businesses in their own country. With globalization,...
Query Resolution Sessions: As a part of our continuous efforts to support our students, we conduct two online ‘Query Resolution Sessions’ prior to every ACCA DipIFR examination attempt. The objective of these sessions is to discuss and clear technical doubts with respect to the Diploma IFRS examination and assist every student to make their DipIFR...
Why ACCA DipIFR : More than 140 countries require or permit the use of International Financial Reporting Standards for their select class of companies. India has also mandated certain class of companies to follow Ind AS (converged with International Financial Reporting Standards) for financial reporting purpose. The companies are currently focussing on recruiting the employees...
Executive Summary Since April 2019, due to the introduction of IFRS 16 / Ind AS 116 – Leases, there has been a significant change in the way leases are accounted for, especially by the lessees. As per the earlier leasing standard, lessees were required to account for lease transactions as operating or finance lease depending...
Introduction Share-based payment (SBP) plans have become increasingly common and form an important component of the total employee compensation package. Share purchase plans and share option plans are a popular feature of employee remuneration, for directors, senior executives and many other employees. Under Indian generally accepted accounting principles (GAAP), the Guidance Note on ‘Accounting for...
