ACCA Articles

• April 9, 2014 IFRS 12 - Disclosure of Interest in other Entities (detailed review) Objective Viewers of financial statements require the disclosure of interests in other entities held by the reporting entity to assess the profit or loss and cash flows available to the reporting entity and determine ...
• April 7, 2014 IFRS 2 - Share Based Payment (detailed review) Objective Share based payments are the normal feature of the business activities i.e. entity often acquires goods or services and make payment in the form of equity instruments or cash on the basis of equity ...
• April 7, 2014 IAS 32 - Financial Instruments: Presentation (detailed review) Objective This standard prescribes the guidelines for the presentation of financial instrument either as financial asset, financial liability or equity instrument from the issuer’s perspective. It also provides ...
• April 7, 2014 IAS 12 Income Taxes (detailed review) Objective This standard deals with the accounting treatment for income taxes. It provides the guidelines to account for the main issues related to income taxes such as the accounting for the current and future tax ...
• April 2, 2014 IFRS 13 - Fair Value Measurement (detailed review) Objective This standard defines fair value along with the guidelines to be used by the entity for the determination (measurement) of fair value of asset, liability and own equity instrument. It also prescribes the ...
• April 2, 2014 IFRS 10 - Consolidated Financial Statement (detailed review) Objective This standard prescribes the principle of control and the guidelines which are used by the entity for the identification and establishment of control. It also deals with the preparation and presentation of ...
• April 1, 2014 IAS 29 - Financial Reporting in Hyperinflationary Economies (detailed review) Objective In a hyperinflationary economy, reporting of operating results and financial position in the local currency without restatement is not relevant, as money loses its purchasing power at such a rate that ...
• March 28, 2014 IAS 37 - Provision, Contingent Liability and Contingent Asset (detailed review) Objective This standard provides appropriate recognition and measurement guide lines which are applicable for the accounting treatment of provision, contingent liability and contingent asset along with related ...
• March 28, 2014 IAS 21 - The Effects of changes in Foreign exchange Rates (detailed review) Objective This standard prescribes the guidelines to account for the transactions designated in foreign currency and rules for the translation of financial statements of a foreign operation. It also deals with the ...
• March 27, 2014 IAS 26 - Accounting and Reporting for Retirement benefit Plans (detailed review) Objective This standard prescribes the guidelines to deal with the accounting and reporting requirements of the retirement benefit plans (often referred to as retirement benefit schemes) which are established for the ...
• March 27, 2014 IFRS 8 - Operating Segments (detailed review) Objective This standard sets out requirements for the disclosures of information about an entity’s operating segments, products, services, the geographical areas in which it operates, and regarding its major ...
• March 24, 2014 IAS 36 - Impairment of Assets (detailed review) Objective This standard provides guidelines to be followed by the entity to make sure that its assets are notstated atmore than its recoverable value. If carrying value of an asset exceeds its recoverable value then ...
• March 24, 2014 IAS 28 - Investments in Associates and Joint Ventures (detailed review) Objective This Standard deals with the accounting treatment of investment in associate and joint venture. It also prescribes the guidelines for the application of the equity method to account for investments in ...
• March 20, 2014 IFRS 5 - Non-Current Assets Held for Sale and Discontinued Operations (detailed review) Objective This standard prescribes the criteria and the accounting treatment for the non-current assets which are to be classified as held for sale, along with the presentation requirements for such assets. It also ...
• March 6, 2014 IAS 41 - Agriculture (detailed review) Objective This standard provides the guidelines, to deal with the accounting treatment of biological assets and agricultural produce at the time of harvest, related to the agricultural activity along with related ...
• March 6, 2014 IAS 7 - Statement of Cash Flows (detailed review) Objective The users of financial statements also take into account the entity’s cash generating ability and cash needs to evaluate its liquidity position in order to take economic decisions as the entity needs ...
• March 6, 2014 IAS 20 - Accounting for Government Grants and Disclosure of Government Assistance (detailed review) Objective This Standard deals with the accounting treatment of government grants, along with the disclosure requirements for government grants and government assistance. Scope The requirements of this standard ...
• February 25, 2014 IAS 24 - Related Party Disclosures (detailed review) Objective This Standard purports to ensure that financial statements of the entity include the disclosures which are essential to bring the attention of the users, to the likelihood that the financial ...
• February 10, 2014 IAS 38 - Intangible Assets (detailed review) Objective This Standard deals with the accounting treatment of Intangible Assets, which are not covered by other accounting standards including the guidance for the main issues related to the recognition & measurement ...
• February 10, 2014 IAS 27 Separate Financial Statements (detailed review) Objective This Standard deals with the accounting treatment of Investment in Subsidiary, Joint Venture & Associate in the Separate Financial Statements of the Investor along with the related ...