TYPES OF FINANCIAL ANALYSISFinancial statements are analysed by different parties for different purposed. The analysis is done from different angles. Accordingly, we can classify financial statement analysis into different categories as follows:1.
DEPRECIATION – A SOURCE OF FUND OR NOTv Arguments in favour of considering it as a source of fund1. Depreciation is considered as an expired cost. It is included within cost of goods sold. It is an allocated cost which is realised when go
Why IFRS?It is the bane of our nation that for very many important issues, there is hardly any debate. For example, year after year, budgets are passed with no meaningful discussions in the Parliament. The writ of the interested few runs riot, main
The bottleneck is at the top of the bottle The satirical yet succinct quote which forms the caption of this article is that of the celebrated management guru of all times, Peter Drucker, when he was driving home the point that the source of all ills
Scope of IFRSAll International Accounting Standards (IASs) and Interpretations issued by the former IASC (International Accounting Standard Committee) and SIC (Standard Interpretation Committee) continue to be applicable unless and until they are am
Derivatives are financial instruments that derive their value from changes in benchmark based on stock prices, interest rates, mortgage rates, currency rates, commodity prices or some other agreed upon base. Derivative Financial Instruments (DFIs) ca
IAS 39 Financial Instruments: Recognition and Measurement Issued in March 1999 Revised in December 2003 Recent amendment: by IFRS 3 revised in January 2008 Financial Instruments
ACCOUNTING STANDARD (AS) 30Financial Instruments: Recognition and MeasurementHedge accounting Definitions Relating to Hedge Accounting 8.14 A firm commitment is a binding agreement for the exchange of a specified quantity of resources at a specifie
IASB Framework The International Accounting Standards Committee Foundation (IASC Foundation) Constitution mentions about the IASB Framework twice, once in paragraph 29 and another in paragraph 43. Paragraph 29 of the IASC Foundation Constitution
The article makes an effort to understand basic concepts of “Revenue recognition” as stated by IAS 18 in a question and answer mode. IAS 18 -- Revenue Recognition What is “Revenue” ?Revenue is the gross inflow of economic be
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