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These are illustrative IFRS financial statements of a listed company, prepared by BDO in accordance with International Financial Reporting Standards. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as they show suggested disclosures together with their sources. They are not intended to address the particular circumstances…
Are you concerned about potential differences between Accounting Standards for Private Enterprises (Canadian ASPE) and International Financial Reporting Standards (IFRS) for your organization? With the increasing complexity of IFRS, the number of differences that may arise for entities are increasing each year. This series by BDO Canada outlines the extent of differences on a standard-by-standard…
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On 28 May 2014, the International Accounting Standards Board (IASB) published IFRS 15 Revenue from Contracts with Customers. IFRS 15 sets out a single and comprehensive framework for revenue recognition, which supersedes (IAS 18 Revenue and IAS 11 Construction Contracts) and the accompanied Interpretations. In common with other recently issued IFRSs, IFRS 15 includes comprehensive…
Read More “IFRS IN PRACTICE 2020-2021 IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS” »
IAS 36 Impairment of Assets sets out requirements for impairment which cover a range of assets (and groups of assets, termed ‘cash generating units’ or CGUs). A number of assets are excluded from its scope (e.g. financial instruments and inventories) and IAS 36 is therefore predominately applicable to property, plant and equipment, intangible assets and…
BDO issues updated IFRS in Practice on impairment of assets – includes guidance on the impact of COVID-19 BDO has released its most up to date guidance on IAS 36 Impairment of Assets. The recent effects of COVID-19 have highlighted the amount of complexity that may arise as entities apply IAS 36 to test for impairment…
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