Whether serving public sector organisations, owner managed businesses, private individuals or listed companies with overseas operations, our goal is to help our clients achieve their ambitions.
Whether serving public sector organisations, owner managed businesses, private individuals or listed companies with overseas operations, our goal is to help our clients achieve their ambitions.
On 23th January 2020, IASB issued Amendments to IAS 1 – Classification of Liabilities as Current or Non-current in order to modify and clearly define Current and Non-current Liabilities to correspond to reality. The amendments will be effective on or after 01 January 2023.
At the commencement date, a lessee shall measure the lease liability at the present value of the lease payments that are not paid at that date. The lease payments shall be discounted using the interest rate implicit in the lease, if that rate can be readily determined.
Materiality plays an important role in preparing and presenting Financial Statements (FS), so inappropriate applications will lead to present non-material information.
Assessing whether a change in payments due to COVID-19 is a lease modification.
We have been made aware of changes in lease payments that have occurred or are expected to occur, as a result of the COVID-19 pandemic so the lease contract and accounting may be modified.
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Under definition of IAS 01: Incomes and expenses (include adjustments due to reclassify) are not allowed to record in profit and loss report as prescribed or allowed by other IFRS.
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International Financial Reporting Standard 13 (IFRS 13)
Effective date: 01 January 2013
Ministry of Finance officially approved the project "Application of international financial reporting standards in Vietnam" dated 16 March 2020, showing the deep integration process, especially in the field of accounting.
RSM’s IFRS illustrative financial statements provide the consolidated financial statements of several entities across a range of structures. The financial statements are prepared in accordance with International Financial Reporting Standards. They are an invaluable resource for anyone involved in the preparation or audit of a financial report under IFRS.
IFRS 15 – Accounting for vouchers in retail industry & Compare with IAS 18 and Circular 200/2014/TT-BTC
IFRS 15 guides accounting and allocating for transaction price in retail industry more reasonable than previous instruction as well as Circular 200/2014/ TT-BTC.
IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS - DIFFERENCES BETWEEN IFRS 15 AND IAS 18
IFRS 15 was greater room for judgment when identifying the goods and services within a contract and then allocating the revenue to those goods and services identified.