ACCOUNTING AUTOMATION & IOT

Download this Document as PDF Electronic Data Interchange Businesses issue various Financial Documents for recording their Transactions to counter-party(ies) in paper / closed formats. Electronic Data Interchange – transmission of Information “electronically” but not “intelligently” – manual re-keying and / or extraction of data. Transformation – From Mail Box to a system where Accounting Package…

IFRS 8 OPERATING SEGMENTS

IFRS 8 Operating Segments [Download this PPT as PDF File] THE CORE PRINCIPLE An entity shall DISCLOSE information to enable users of its financial statements  to EVALUATE The nature and financial effects of the BUSINESS ACTIVITIES in which it engages & the ECONOMIC ENVIRONMENT in which it operates. IFRS 8 – APPLICATION SUMMARY •1 •Identify…

IAS 23 BORROWING COSTS

Download this Post in PDF Format 1.     STATUS         Mandatory 2.     OBJECTIVE         Prescribe the Accounting Treatment for BORROWING COSTS. 3.     NOT APPLICABLE     Does not deal with ACTUAL or IMPUTED Cost of Equity including Preferred Capital not classified as Equity. 4.     KEY TERMS         BORROWING COSTS (BC)         are INTEREST + OTHER COSTS incurred by an entity in connection…

IAS 21 THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES

Synopsis
– Objective ; – Scope; – Determination of Functional Currency; -Change in Functional Currency; -Definition of Foreign Currency; -Initial Recognition of Foreign Currency; -Remeasurement of Foreign Currency Transactions into Functional Currency; -Subsequent Measurement of Foreign Currency Transactions and Translation of Foreign Operations with Different functional currency; -Translation to Presentation Currency; Summary