Conceptual Framework for Financial Reporting 2018

Status and purpose and status of the Framework The Framework’s purpose is to assist the IASB in developing and revising IFRSs that are based on consistent concepts, to help preparers to develop consistent accounting policies for areas that are not covered by a standard or where there is choice of accounting policy, and to assist […]

Read More

Basics of IFRS 16 – LEASES

Definition of Lease “A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration” – IFRS 16 “An agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the […]

Read More