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Blog2017-03-15T11:23:55+00:00

COVID-19 Impact on IFRS 9 Expected Credit Losses

Existing ECL models use historic credit data to derive links between changes in economic conditions and customer behaviour, and other ECL parameters such as loss rates, probabilities of default and loss given default etc. COVID-19 conditions have significantly impaired these historic data tools such that businesses need to revisit their ECL models to make appropriate updates.

IAS: 36 Impairment of Assets

Managing the impairment of business assets in today’s environment of rapidly changing markets, technology, and regulations, has become a very important part of the overall management of business assets. In simplified terms, impairment of long […]

ASC 606: The new revenue recognition standard

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working towards a single comprehensive revenue recognition standard since the initial joint project was put together in 2002. The objective […]