Financial Accounting | TheAccSense

Understand the significant differences on the accounting for employee benefits under MPSAS 25, MFRS 119 and Section 28 of MPERS.

Financial Accounting

Employee Benefits: Comparison between MPSAS 25, MFRS 119 and Section 28 of MPERS

by TheAccSense Team July 21, 2021July 22, 2021

The article discusses the significant differences on the accounting requirements for employee benefits under MPSAS 25, MFRS 119 and Section 28 of MPERS.

Understand how entities account for defined benefit plans for post-employment benefits given to employees.

Financial Accounting

Factsheet Series: Accounting for Defined Benefit Plan

by TheAccSense Team July 19, 2021July 22, 2021

The accounting for employee benefits depends on the benefits provided by the entities.

Financial Accounting

Factsheet Series: Accounting for Employee Benefits

by TheAccSense Team July 16, 2021July 22, 2021

Fair value reflects the price that would be received to sell an asset or paid to transfer a liability.

Financial Accounting

Factsheet Series: IFRS 13 Fair Value Measurement

by TheAccSense Team July 12, 2021July 22, 2021

Assets classified as held for sale requires a different measurement principle and a discontinued operation requires a different presentation and disclosure.

Financial Accounting

Factsheet Series: Assets Held for Sale and Discontinued Operations

by TheAccSense Team July 11, 2021July 22, 2021

Understand how entities prepare their cash flow statement under IAS 7.

Financial Accounting

Factsheet Series: Preparation of Cash Flows Statement in IAS 7

by TheAccSense Team July 8, 2021July 22, 2021

Assets within the scope of IAS 36 need to be assessed for impairment either annually or when there is an indication.

Financial Accounting

Factsheet Series: What is impairment of asset in IAS 36?

by TheAccSense Team July 7, 2021July 22, 2021

Entities need to understand how they satisfy their performance obligations to customers in order for revenue to be recognised

Financial Accounting

Factsheet Series: Revenue Recognition in IFRS 15 (Part 2)

by TheAccSense Team July 1, 2021July 22, 2021

IFRS 15 introduces the 5-step process for revenue recognition

Financial Accounting

Factsheet Series: Revenue Recognition in IFRS 15 (Part 1)

by TheAccSense Team June 28, 2021July 22, 2021

IAS 21 explains how entities should account and report the effects of changes in Foreign Exchange Rates in their financial statements

Financial Accounting

Factsheet Series: Key principles in reporting the effects of changes in Foreign Exchange Rates

by TheAccSense Team June 27, 2021July 22, 2021