IFRS 3- Business Combinations ( summary with examples )
1. Objective of IFRS 3 IFRS 3 provides guidance on how an acquirer should recognize, measure, and disclose a business
Continue reading IFRS 2- Share Based Payment ( summary with examples )
Objective IFRS 2 prescribes how companies should measure and recognize share-based payments, including: Equity-settled payments (shares, share options) Cash-settled payments
Continue reading IFRS 1-First-time Adoption of International Financial Reporting Standards ( summary with examples )
Objective IFRS 1 provides requirements for entities adopting IFRS for the first time, ensuring: Transparency and comparability Cost-effective transition High-quality
Continue reading Integration of AI with accounting systems and cloud technologies
🌐 1. Overview Artificial Intelligence (AI) and cloud computing are reshaping accounting by connecting data, systems, and processes in real
Continue reading Use of AI in bookkeeping, data entry and reconciliation
🌍 1. What Is AI Bookkeeping? AI bookkeeping means using machine learning (ML), natural language processing (NLP), and automation tools
Continue reading How will AI change what accountants do?
🌍 1. Automation of Routine Accounting Tasks 🔹 What changes AI automates repetitive, time-consuming, and rules-based accounting tasks such as:
Continue reading IAS 1-Presentation of Financial Statements ( summary with examples )
Objective IAS 1 sets out the overall requirements for the presentation of financial statements, ensuring comparability, transparency, and fair presentation
Continue reading IAS 2-Inventories ( summary with examples )
Objective IAS 2 prescribes the accounting treatment for inventories, focusing on: Measurement Cost determination Expense recognition Write-downs to net realizable
Continue reading IAS 7-Statement of Cash Flow ( summary with examples )
Objective IAS 7 requires an entity to present information about cash flows during a period — showing how cash and
Continue reading IAS 8-Accounting Policies, Changes in Accounting Estimates and Errors ( summary with examples )
Objective IAS 8 prescribes: How to select and apply accounting policies, How to account for changes in accounting policies and
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