Future CFO

JUNE 27, 2022

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.

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IFRS Financial Reporting Accounting Standards Accounting 52

Future CFO

FEBRUARY 7, 2023

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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IFRS Accounting Economics Financial Reporting 52

The Charity CFO

JANUARY 19, 2023

Accounting standards 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 accounting standards that are, in many ways, different from for-profit organizations.

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Accounting Standards Nonprofit Accounting GAAP 52

CFO News

FEBRUARY 20, 2025

IFRS 17, the global insurance accounting standard, took effect in 2023, with India aligning through Ind AS 117, issued in August 2024. While the initial compliance deadline was 2025, IRDAI has extended it to 2027, giving insurers more time to adapt. Heres what they shared.

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Accounting Standards IFRS Accounting Compliance 40

Future CFO

JULY 12, 2020

After several months of re-deliberations, the International Accounting Standards Board (the Board) has published the final amendments to IFRS 17 Insurance Contracts. The post IFRS 17: Final amendments are out now appeared first on FutureCFO.

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IFRS Accounting Standards Accounting Finance 40

Bramasol

JANUARY 27, 2023

In 2018, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) announced the release of new accounting standards, ASC 842 and IFRS 16, that redefined how organizations must account for leases.

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Compliance IFRS SAP Accounting Standards 79

Bramasol

SEPTEMBER 29, 2023

Globalization CFOs have long needed to assure compliance with two different standards-setting bodies. The first is the Financial Accounting Standards Board (FASB) in the United States. IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term.

Technology 88

Technology IFRS SAP Compliance 88

Bramasol

JANUARY 9, 2023

Since the release of new lease accounting standards ASC 842 and IFRS 16 in 2018, companies have taken a variety of approaches to comply, but many are now aiming to optimize their lease accounting processes for efficiency and long-term manageability.

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SAP Accounting IFRS Reconciliations 85

Bramasol

JUNE 10, 2022

One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Parallel Ledgers - in which multiple ledgers are used, with an accounting principle applied to each ledger.

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Accounting Principles IFRS Accounting SAP 78

Bramasol

JULY 31, 2023

In addition, global companies need the flexibility to comply and report according to multiple accounting standards. For leasing, this means International Accounting Standards Board’s (IASB’s) IFRS 16 and US GAAP Financial Accounting Standards Board’s (FASB’s) ASC 842.

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Accounting SAP GAAP IFRS 70

CFO Talks

SEPTEMBER 30, 2024

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 accounting standard for intangible assets, which may be doing more harm than good for South Africa’s economic ambitions.

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Accounting Standards Economics IFRS Auditing 98

PYMNTS

JUNE 10, 2019

Reports in The Block Crypto late last week said a group of California CPAs has sent a letter to the Financial Accounting Standards Board, a federal board that sets Generally Accepted Accounting Principles (GAAP), requesting that it consider establishing a task force to address a lack of clarity in cryptocurrency accounting standards.

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Accounting IFRS GAAP Accounting Standards 51

CFO Leadership

OCTOBER 10, 2023

Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.), a model could be trained to become an expert in finance and accounting.

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Accounting Finance Auditing IFRS 95

PYMNTS

DECEMBER 16, 2016

This is especially true when multinationals must reconcile data across different accounting standards, such as GAAP and IFRS. Thus, the report concluded, firms would benefit from what is known as continuous accounting, where traditional month-end processes would be accelerated to occur more often and more rapidly.

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IFRS Reconciliations GAAP Accounting Standards 74

CFO Talks

OCTOBER 2, 2024

Chinese Study highlights limitations on IAS 38, accounting for intangible assets A recent study from China highlighted the limitations of IAS 38 —the International Accounting Standard that governs intangible assets—and its impact on innovation, particularly in high-tech industries.

Accounting 98

Accounting CFO Economics Accounting Standards 98

Future CFO

APRIL 18, 2022

Click on the link to download to discover in detail a list of the benefits that IBM Cognos Controller provide for finance teams: Data collection and validation Reconciliations Workflow and tasks to improve the close cycle Currency conversion Minority interest calculations Inter-company eliminations Group closing adjustments Management adjustments Allocations (..)

Finance 52

Finance IFRS GAAP Accounting Principles 52

Bramasol

MARCH 24, 2022

A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? From a global perspective, the International Sustainability Standards Board (ISSB) is also working on developing uniform financial reporting rules.

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Accounting SAP Analyzing Data IFRS 75

CFO Talks

JANUARY 27, 2025

So, they’re the body that accredits all, professional accountants in Canada, and there’s one at the national level, which typically gets involved in standard setting and influencing international standard setting. I once did a analysis of the IFRS Foundation’s budget.

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CFO Auditing IFRS Accounting 52

Planful

JULY 5, 2016

However, the revenue recognition guidance offered under US GAAP vs. IFRS has differed and was in need of improvement. So for a number of years, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working to converge their guidelines for revenue recognition.

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Budgeting IFRS Planning GAAP 40

Future CFO

AUGUST 18, 2022

The use of, or reference to, Sustainability Accounting Standards 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.).

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IFRS Auditing Accounting Standards Accounting Firms 52

CFO Share

NOVEMBER 15, 2023

An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) What Do Financial Auditors Look For? Auditors assess your financial statements’ accuracy, ensuring they are free of material misstatements. The validity and accuracy of financial transactions and records. The efficacy of internal controls.

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Auditing IFRS GAAP Invoicing 52

CS Lucas

NOVEMBER 29, 2023

Accounting Compliance Specialist tools guarantee lending treatments comply fully with evolving IFRS accounting standards. Management and auditors gain on-demand reporting. This avoids surprises or restatements and provides information to the finance team with appropriate details for disclosures.

Technology 52

Technology Treasury IFRS Compliance 52

CFO Leadership

OCTOBER 18, 2023

Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.), a model could be trained to become an expert in finance and accounting.

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Accounting Finance Auditing IFRS 52

The Finance Weekly

MARCH 28, 2022

Converging ESG and Sustainability Reporting Standards There are several competing standards for ESG/Sustainability reporting including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Carbon Disclosure Project (CDP), and others.

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Finance Auditing Accounting Standards IFRS 52

CFO Talks

JUNE 23, 2022

Internationally, the establishment of the International Sustainability Standards Board (ISSB), announced at COP26 in Glasgow late last year (2021), promises to standardise nonfinancial reporting once it has been accepted. . Local standardisation efforts are underway.

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IFRS CFO Accounting Standards Education 52

Bramasol

SEPTEMBER 8, 2024

Enhanced Compliance : Facilitates adherence to accounting standards and regulations, reducing the risk of non-compliance and associated penalties. Improved Compliance - Ensures compliance with ASC 606, IFRS 15, and other relevant accounting standards through a robust set of predefined rules and configurable options.

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SAP General Ledger Compliance Accounting Standards 58

Future CFO

NOVEMBER 2, 2020

Many jurisdictions are moving towards international accounting standards such as International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP).

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Compliance IFRS GAAP Accounting Principles 40

Spreadym

AUGUST 10, 2023

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 accounting standards, cost, customer support, and any unique requirements your organization might have.

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Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

CFO Talks

DECEMBER 26, 2021

I followed this conference from the beginning, and it was basically a formation and a unification of our accounting standards. CIARAN RYAN: I have no doubt that this is going to become a very important part of our lives, as accountants going forward. I believe they’re searching for a chairman and a vice chairman as we speak.

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Manufacturing CFO Budgeting IFRS 75

Michigan CFO

MARCH 21, 2023

In accounting, indefinite lifespan refers to an asset where its rate of capital depreciation isn’t known or cannot be easily calculated.

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Valuation CFO IFRS Sales 40

Musings on Markets

JANUARY 9, 2021

One reason is that these businesses are not only not required to publicly disclose their financial details in most parts of the world, but often follow more malleable accounting standards, making the data less reliable and comparable.

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Valuation Currencies Numbers Corporate Finance 52

CFO Talks

DECEMBER 26, 2021

So that you will eventually have the CFO focusing on three reporting areas, the traditional IFRS, then secondly, business efficiencies, and then because of the difficult economic circumstances we are in, the only way that you can still maintain the bottom line is through better efficiencies.

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CFO Profit and Loss Finance Accounting 40

CFO Talks

OCTOBER 1, 2024

The conversation about the underinvestment in intangible assets in South Africa, and the challenges of accounting for these assets (due to subjective accounting treatments), directly impacts how CFOs approach financial reporting. IFRS, US GAAP). The interview highlights how companies that invest more in intangible assets (e.g.,

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Leverage Investments Economics Accounting 52

CFO Talks

MARCH 12, 2025

Following updates from CIBA and regulatory authorities helps professionals understand changes in financial laws, tax rules, and accounting standards. Regularly reviewing IFRS updates, tax laws, and business regulations ensures compliance and minimises risk.

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Finance IFRS Compliance Financial Modeling 52