Accounting
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5 Qualifying Conditions For Hedge Accounting
Highly effective and highly probable in the context of IAS 39 : There are 5 Qualifying Conditions For Hedge Accounting.…
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Hedge Accounting: What Is An Economic Hedge?
Economic Hedge :Entities enter into hedge arrangements for economic reasons; to protect themselves from financial risks such as currency risk,…
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Rights And Obligations Approach To Recognition Of Financial Instruments
Rights and obligations approach to the recognition of financial instruments. IAS 39 applies to contracts equally proportionately unperformed (where both…
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The Major Risks Of Financial Instruments
There are various types of risks associated with the transactions of financial instruments. Each risks of financial instruments has its distinctive…
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What is the purpose of disclosure requirements of IFRS 7?
What is the purpose of disclosure requirements of IFRS 7? Purpose of IFRS 7’s disclosure requirements is to Enhance understanding…
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Hierarchy In Determining Financial Instruments To Be Equity Instruments
Is there any hierarchy to use in determining a financial instrument to be liability or an equity instruments of the…
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What is equity risk and how it is useful in determining whether a financial instrument is a liability or an equity
What is equity risk and how it is useful in determining whether a financial instrument is a liability or an…
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Recognition Of Deferred Tax Assets Relating To Tax Losses
Deferred tax assets relating to tax losses are to be recognized? A history of accounting losses or the existence of…
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What should be done when a tax rate or tax rule changes?
What should be done when a tax rate or tax rule changes? When a new tax rate or tax rule…
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Is Income Tax Expense Always Recognized In Current Year?
In single word, Yes. Income tax expense always recognized in the current year! Tax effect accounting as mandated in IAS…
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