IFRS 7 Financial Instruments: Disclosures
IFRS requires certain disclosures to be presented by category of instrument based on the IAS 39 measurement categories. Certain other disclosures are required by class of financial instrument. For those disclosures an entity must group its financial instruments into classes of similar instruments as appropriate to the nature of the information presented.
IFRS 4 – Insurance Contracts
IFRS 4 specifies accounting for insurance contracts issued by any entity.It also specifies accounting for reinsurance contracts issued or held by an entity. The standard applies to these contracts, irrespective of whether the entity is regulated as an insurer and whether the contract is regarded as an insurance contract for legal purposes.
Business Combinations – IFRS 3
A business combination is a transaction or other event in which a reporting entity (the acquirer) obtains control of one or more businesses (the acquiree). Control is the power to govern the financial and operating policies of an entity or business so as to obtain benefits from its activities. The acquirer accounts for a business combination by recognising the acquiree’s assets and liabilities.
Adopt, adapt, accept, acquire IFRS
Indian business environment will face sea of changes when Indian corporates will adopt IFRS in 2011. IFRS conversion requires fundamental change on multiple levels, can take up to several years, and affects virtually every function within an organization. Adopting IFRS is going to be very challenging but at the same time could also be rewarding. PIRON believes Indian corporates are likely to reap significant benefits from adopting IFRS. Improvement in comparability of financial information and financial performance with global peers [...]
We train you to fly, ensuring you don’t know what falling is
PIRON is IFRS training, consulting and outsourcing firm who deliver with human touch and in a way imbibing into the culture of the company engaged with. We adapt and prepare ourselves to serve in the best interests of the company and are flexible to give the best we can, instead of set standards for trainings, providing material for learning, or understanding company’s financial statements, as we believe every company has a unique style and approach to face the challenges. The [...]
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