C3 – IAS 36 – Financial Learning Hub

Effects of the COVID-19 on 2020 Reporting Periods

Posted on 30 September 2020 by finlearnhub in C3 - IAS 10, C3 - IAS 2, C3 - IAS 20, C3 - IAS 36, C3 - IAS 37, C3 - IAS 38, C3 - IAS 40, C3 - IFRS 13, C3 - IFRS 15, C3 - IFRS 16, C3 - IFRS 9

For reporting periods ending on or after 31 January 2020, the effects of the COVID-19 would need to be incorporated into the preparation of financial statements. The financial reporting implications will depend on the facts and circumstances of each entity. The following are some of the financial reporting considerations that entities and engagement teams need … Continue reading Effects of the COVID-19 on 2020 Reporting Periods →

IAS 36 – Impairment of assets

Posted on 20 February 201829 July 2019 by finlearnhub in C3 - IAS 36

The basic principle of IAS 36 Impairment of assets is that an asset should be carried at no more than its recoverable amount. The recoverable amount is the amount to be recovered through use or sale of the asset. Therefore, the recoverable amount is defined as the higher of: The asset's fair value less costs … Continue reading IAS 36 – Impairment of assets →