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Showing 12 of 17 content results
FRED 82 – Periodic Updates to FRS 100 – 105
Risk, Compliance and Professional Standards FRED 82 – Periodic Updates to FRS 100 – 105
The concept of a new suite of standards for the UK and Ireland, aligning with international financial reporting standards, was first conceived in 2002
Stephen Murray
Stephen Murray
| 13 September 2023
Auditor transition: how to achieve a smooth changeover
Audit and Assurance Auditor transition: how to achieve a smooth changeover
Appointing new auditors may seem like a daunting task that will be disruptive to your business and a drain on the finance function. Nevertheless, there are a multitude of reasons to consider a change, including simply seeking a ‘fresh look’ at the business.
Blaithin O’Neill
Blaithin O’Neill
| 26 April 2023
Insights into IAS 36 - Value in use: applying the appropriate discount rate
Financial Reporting Insights into IAS 36 - Value in use: applying the appropriate discount rate
IAS 36 ‘Impairment of Assets’ sets out the requirements entities should follow prior to concluding if an asset should be written down in the financial statements (ie impaired). However, due to the complex nature of the standard, the requirements of IAS 36 can be challenging to apply in practice.
Fergus Condon
Stephen Murray
Louise Kelly
| 12 January 2022
Insights into IAS 36 - Value in use: estimating future cash inflows and outflows
Financial Reporting Insights into IAS 36 - Value in use: estimating future cash inflows and outflows
IAS 36 ‘Impairment of Assets’ prescribes the accounting for impairment reviews. There are some detailed requirements of IAS 36 that are complex and challenging for the preparers of financial statements to apply.
Fergus Condon
Stephen Murray
Louise Kelly
| 11 January 2022
Insights into IAS 36 - Estimating recoverable amount
Financial Reporting Insights into IAS 36 - Estimating recoverable amount
IAS 36 ‘Impairment of Assets’ provides the guidance for carrying out impairment reviews of assets (both tangible and intangible). IAS 36 is not a new Standard, and while many of its requirements have been extensively commented on, IAS 36’s guidance is detailed, prescriptive and complex in some areas, and therefore frequently challenging to apply in practice.
Stephen Murray
Fergus Condon
Louise Kelly
| 11 January 2022
IFRS Example Consolidated Financial Statements 2021
IFRS IFRS Example Consolidated Financial Statements 2021
The preparation of financial statements in accordance with International Financial Reporting Standards (‘IFRS’) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (‘IASB’) with the potential to significantly impact the presentation of a complete set of financial statements.
17 November 2021
Configuration or customisation costs in a cloud computing arrangement
IFRS Configuration or customisation costs in a cloud computing arrangement
Configuration or customisation costs in a cloud computing arrangement
17 November 2021
Insights into IFRS 8
Audit and Assurance Insights into IFRS 8
For entities that operate in a variety of classes of business, geographical locations, regulatory or economic environments or markets, high quality management accounts are essential.
04 November 2021
Insights into IAS 36 - Identifying cash-generating units
Audit and Assurance Insights into IAS 36 - Identifying cash-generating units
IAS 36 ‘Impairment of Assets’ prescribes the accounting for impairment reviews. While the guidance in this area has not changed in recent years, it still remains a challenging area to apply by preparers of financial statements.
29 September 2021
Insights into IAS 36 - Allocating assets to cash-generating units
Audit and Assurance Insights into IAS 36 - Allocating assets to cash-generating units
The accounting requirements regarding impairment of tangible and intangible assets are governed by IAS 36 ‘Impairment of Assets’. The requirements are not new, however remain challenging as the guidance is detailed and complex in some areas.
29 September 2021
Insights into IAS 36 - Allocating goodwill to cash-generating units
Audit and Assurance Insights into IAS 36 - Allocating goodwill to cash-generating units
IAS 36 ‘Impairment of Assets’ assesses when and how to conduct an impairment review. It contains complex areas of guidance and therefore is challenging to apply in practice.
29 September 2021
Accounting for rent free periods and rent concessions as a result of COVID-19
Audit & Assurance Accounting for rent free periods and rent concessions as a result of COVID-19
The International Accounting Standards Board (IASB) has issued amendments to IFRS 16 which simplifies how companies account for COVID-19-related rent concessions. IFRS 16 contains specific requirements on accounting for lease modifications including rent concessions that change the overall consideration for the lease.
08 June 2021
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