A quick recap of what are the accounting basics and what is accounting all about.
Impairment refers to a drastic and often permanent reduction in the value of a company’s asset to below its carrying value.
EY, the Big 4 accounting firm, has published an updated version of their guidance for accounting considerations of the Coronavirus pandemic.
Forbes has just announced their 2021 list of the world’s richest people. The 35th edition of the list of billionaires ranks the world’s wealthiest people based on the current value of their fortunes.
The International Auditing and Assurance Standards Board (IAASB) has released three new and revised quality management standards.
IASB has launched a public consultation on proposed new accounting requirements for business combinations under common control.
IASB has published a proposed amendment to IFRS 16 that specifies how a company measures the lease liability in a sale and leaseback transaction.
IAASA has published an information note on how companies have accounted for leases and made disclosures under IFRS 16-Leases.
A list of a few illustrative financial statements and COVID-19 related guidance from some of the best sources on the internet.
The FRC UK has published its report on the first thematic review with respect to the financial reporting of the effects of COVID-19.
The Institute of Chartered Accountants of Pakistan (“ICAP”) has issued illustrative financial statements and disclosure checklists for Public Interest companies (PICs) and Medium-sized companies (MSCs) in Pakistan through its Circular No. 10/2020.
The Financial Reporting Council (‘FRC’) of UK has announced its principles for operational separation of the audit practices of the Big 4 firms.
Due to the current COVID-19 pandemic, a practical issue that has emerged for auditors is with respect to the attendance at inventory counts. This article provides extracts from guidance issued by various governing bodies.
The International Accounting Standards Board (“IASB”) has issued amendments to IFRS 17- Insurance Contracts (“IFRS 17”) aimed at helping companies implement the standard and making it easier for them to explain their financial performance.
An extract from Dale Carnegie’s book “How to Stop Worrying and Start Living” (Part Four – Seven Ways to Cultivate Mental Attitude That Will Bring You Peace And Happiness)
A list of publications from various sources that provide details on financial reporting implications of the COVID-19 pandemic.