Under IFRS, end of service provision is calculated based on the present value of expected future payments to employees upon termination of their service. This involves estimating the amount of benefits payable, considering factors such as salary, length of service, and any applicable legal or contractual obligations. The projected cash flows are then discounted using a suitable discount rate, typically reflecting the yield on high-quality corporate bonds. Additionally, actuarial assumptions about employee turnover, mortality, and future salary increases may also be factored into the calculation.
IAS-39/32 or in future IFRS-9 will apply. all kinds of fin inst will be under the coverage of these three std's.
IFRS
Push down accounting is not acceptable under IFRS.
IFRS and IAS in the Philippines are implemented and adopted in order to prepare the general purpose financial statements. To comply with every IFRS, it grants limited exemptions from the general requirement.
Under all of US GAAP, CDN GAAP and IFRS, idle assets should continue to be depreciated.
IAS-39/32 or in future IFRS-9 will apply. all kinds of fin inst will be under the coverage of these three std's.
IFRS
There are currently 13 IFRS standards...
Push down accounting is not acceptable under IFRS.
IFRS means International Financial Reporting Standard Equity means Equity IFRS Equity means Equity computed on the basis of IFRS For more info I can suggest you to visit these website: http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/tag/equity/ Regards
Dear IFRS 1 is the International financial reporting standard n. 1 related to First Time Adoption of IFRS. I can suggest you to visit these website to receive more info about: http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/category/ifrs-1/ http://www.iasplus.com/standard/ifrs01.htm Regards
International Financial Reporting Standards (IFRS) are new standards and Interpretation about accounting applied in several countries. IFRS are issued by IASB For more info I suggest you to visit related links
IFRS and IAS in the Philippines are implemented and adopted in order to prepare the general purpose financial statements. To comply with every IFRS, it grants limited exemptions from the general requirement.
There are several costing items that has change in the adoption of IFRS, for in GAAP the stock valuation or material pricing adopted is LIFO and FIFO but in IFRS only FIFO is adopted etc
accounting profession challenges when using IFRS
Under all of US GAAP, CDN GAAP and IFRS, idle assets should continue to be depreciated.
IFRS, International financial reporting standard re Standards Interpretations and the Framework adopted by the IASB (International Accounting Standard Board). For more info I can suggest you to visit these website: http://www.iasb.org http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/tag/iasb/ http://www.iasplus.com/country/useias.htm (IFRS per Country) Regards