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The Role of IFRS in Simplifying Cross-Border Financial Reporting In todays interconnected world, businesses are no longer confined by borders. This is where International Financial Reporting Standards (IFRS) come into play. But what does it really mean to be IFRS-compliant? What is IFRS Compliance? Heres why: 1.
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The Financial Reporting Council (FRC) calls for IFRS 17 disclosures improvements in its recently published IFRS 17 'Insurance Contracts' thematic review. The IFRS 17 disclosures improvements that FR C expects include the following. The post IFRS 17 disclosures improvements needed: FRC appeared first on FutureCFO.
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Accountingstandards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Because of their unique structure and operational model, nonprofits must comply with various accountingstandards that are, in many ways, different from for-profit organizations.
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Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 8, Operating Segments. The post The fundamentals of IFRS 8 appeared first on FutureCFO.
IFRS 17 will change insurers' reported earnings and equity as it alters their profit recognition patterns and measurement of liabilities, while not directly affecting insurers' creditworthiness, said Moody's recently. The new insurance reporting standard has been taken effect since January 2023.
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This is not just an accounting issue; it’s a symptom of a broader problem that threatens our ability to compete in the global economy. At the heart of this issue is IAS 38 , the international accountingstandard for intangible assets, which may be doing more harm than good for South Africa’s economic ambitions.
Chinese Study highlights limitations on IAS 38, accounting for intangible assets A recent study from China highlighted the limitations of IAS 38 —the International AccountingStandard that governs intangible assets—and its impact on innovation, particularly in high-tech industries. How CIBA and the CFO Club Can Assist CFOs 1.
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AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC. SEC filings, GAAP documentation, FASB accountingstandards, IFRSstandards, PCAOB, FINRA, etc.),
Converging ESG and Sustainability Reporting Standards There are several competing standards for ESG/Sustainability reporting including the Global Reporting Initiative (GRI), Sustainability AccountingStandards Board (SASB), Carbon Disclosure Project (CDP), and others.
When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accountingstandards, cost, customer support, and any unique requirements your organization might have.
The use of, or reference to, Sustainability AccountingStandards Board (SASB) standards more than doubled in 2020. This is important because new disclosure proposals from the International Sustainability Standards Board (ISSB) include and build upon SASB standards. 1, 2022, to support the work of the ISSB.).
South African-born Daniel Raubenheimer is a passionate MBA graduate with cross-functional experience in tech, FMCG and manufacturing, he’s now CFO at Silon in Atlanta, USA, a leading producer of technical compounds and polyester staple fibres. CFO Talks is a brand of the South African Institute of Business Accountants.
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This Interview conducted by Leana van der Merwe CBA(SA), CA(SA), a Technical Specialist at the Chartered Institute for Business Accountants (CIBA) and editor of CFO Club, with Dr. Daan Steenkamp, the CEO of Codera Analytics. IFRS, US GAAP). I’d like to shift the focus slightly to our CFO Club members.
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