Insights

The International Accounting Standards Board (IASB) has introduced IFRS 18, Presentation and Disclosure in Financial Statements, which replaces IAS 1, aiming to improve communication and comparability in financial statements. Effective for reporting periods beginning on or after 1 January 2027, IFRS 18 introduces substantial changes, particularly in the statement of profit or loss, to address the lack of detailed guidance in the previous standard.

The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards (IFRIC) or amendments to existing IFRS Standards.

The classification of financial instruments as either debt or equity has significant implications for the presentation and measurement on the balance sheet and income statement. This article outlines the various factors you should consider when making your assessment.

This article considers some regularly encountered application issues when applying IAS 36.

This article provides a summary of the IAS 36 disclosure requirements and highlights particular areas of focus for regulators, including select illustrative examples for these areas of focus.

We are pleased to share Example consolidated financial statements 2022 to assist you in your preparation of your financial statements inline with the latest International Financial Reporting Standards (IFRS) changes.

Digital tokens, such as cryptocurrencies and NFTs, have established themselves as a new asset class in less than a decade. In this webinar, a panel of Grant Thornton tax Partners from Singapore, Australia, Hong Kong and India will discuss the impact digital tokens are having on tax (and vice versa) in their jurisdictions, and try to help decode some of the fundamental tax and accounting issues for players operating in this new universe.

This article focuses on part of this step; reversing impairment losses.

An overview of IAS 36’s main requirements and an outline of the major steps in applying them in practice.

This article focuses on part of this step; recognition of impairment losses. For reversing impairment losses refer to our article ‘Insights into IAS 36 – Reversing impairment losses’.

This article discusses when there are exceptions to the rule of comparing recoverable amount with carrying amount, which is step 5 in the impairment review process.

SGX’s framework for Special Purpose Acquisition Companies provides companies an alternative route to raise capital. But SPAC transactions can give rise to unique financial reporting and accounting issues under Singapore Financial Reporting Standards (International) (SFRS(I)s). In this piece, we break down what a SPAC is and key accounting considerations in SPAC transactions.

The final part of this series on Step 4 of the impairment review on estimating the recoverable amount, discusses how to estimate an appropriate discount rate in value in use (VIU) calculations.

Definitions of recoverable amount and fair value less costs of disposal (FVLCOD) and an overview of value in use (VIU).

In our three-part series on Step 4 of the impairment review on estimating the recoverable amount, this article discusses estimating future cash inflows and outflows in value in use (VIU) calculations.

The second of a three-part series on cash-generating units (CGUs), this article discusses how to allocate assets to CGUs.