Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

A new conceptual framework for IFRS includes revisions to concepts for reporting assets, liabilities, income, and expenses. In completing the comprehensive project to change the conceptual framework, ...

A quiet but significant shift has been taking place in the world of recruitment agencies. As these firms scale, more of them are being drawn into the orbit of IFRS 16, the international accounting ...

Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate lease accounting standards: the Financial Accounting Standards Board’s ASC ...

On July 28, 2010, the Federal Executive Council accepted the recommendation of the Committee on the Roadmap to the Adoption of International Financial Reporting Standards (IFRS) in Nigeria, that it ...

Companies use financial statements both for internal and external purposes. Those that supply information to the public must follow accounting principles. Both the Generally Accepted Accounting ...