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The fundamentals of IFRS 16

Future CFO

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 16, Leases. The post The fundamentals of IFRS 16 appeared first on FutureCFO. Finance Accounting and Reporting Operations Resources Videos/Tutorials ACCA accounting standards IFRS 16

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The fundamentals of IFRS 5

Future CFO

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 5, 'Non-Current Assets Held for Sale and Discontinued Operations'. The post The fundamentals of IFRS 5 appeared first on FutureCFO.

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How to Comply with Accounting Standards for Nonprofits

The Charity CFO

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. In the United States, these Generally Accepted Accounting Principles (or GAAP) are set by the Financial Accounting Standards Board (FASB).

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The fundamentals of IFRS 8

Future CFO

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. Finance Accounting and Reporting Operations Resources Videos/Tutorials ACCA accounting standards IFRS 8

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IFRS 17: Huge work required before delivery success

Future CFO

Insurers have reported that there is still a huge amount of work to complete in order to successfully deliver IFRS 17 ahead of the 2023 deadline, said WTW recently. According to WTW’s latest survey, entitled ‘IFRS 17: Will we make it?’,

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IFRS 17: Final amendments are out now

Future CFO

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. Finance Accounting and Reporting Operations Resources Videos/Tutorials IFRS 17 KPMG

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California CPAs Call For Crypto Accounting Clarity

PYMNTS

Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. ” The committee also suggested in its letter that standards approach cryptocurrency accounting the same way they would for a corporation holding and using foreign currencies.

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Next Steps in Optimizing Lease Management to Go Beyond Compliance

Bramasol

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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Webinar- Take Lease Accounting to the Next Level with SAP CLM

Bramasol

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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Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Bramasol

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. Asset Accounting (FI-AA). Inventory Accounting (MM and ML).

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IBM Cognos Controller: Financial close management managed by the office of finance

Future CFO

Finance organizations regularly face the challenges of meeting strict deadlines and satisfying data quality requirements for closing the books and delivering accurate financial statements.

IFRS 52
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Standards for Carbon Accounting are Beginning to Take Shape

Bramasol

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? CEO perspective Thought Leadership carbon accounting

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Why Should Finance Teams Care About ESG Reporting?

The Finance Weekly

Continue reading to learn what ESG reporting is, what's new with ESG reporting standards, why Finance teams should care, and the five benefits of aligning ESG and financial reporting. However, following the recent COP26 conference in 2021, there is now a push for a global standard.

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More firms obtain independent assurance on ESG data

Future CFO

The number of global companies obtaining independent assurance on their ESG information increased from 51% to 58% in 2020, compared to the previous year, said the International Federation of Accountants ( IFAC ) recently.

IFRS 52
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How the New Revenue Recognition Rules Could Impact Budgeting and Planning

Planful

To date, most of the focus has been on the transactional accounting impact of the new guidelines. 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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It’s crunch time for CFOs when it comes to ESG reporting

CFO Talks

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. .

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Closing The Books, With An Eye On Process And Automation

PYMNTS

In a survey conducted by the Institute of Management Accountants (IMA), and sponsored by Blackline, titled “Process Automation in Accounting and Finance,” examining the attitudes and concerns of 750 financial professionals surrounding accounting and month-end closing processes, manual activities remain prevalent — at the cost of time and money. The optimization of the accounting process, he said, is difficult at times with limited staff.

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The most and least complex jurisdictions for financial compliance in APAC

Future CFO

China’s financial environment is the region’s most complex, followed by Vietnam, South Korea, Malaysia and Indonesia, according to TMF Group’s report titled Accounting & tax: The global and local complexities holding multinationals to account. By contrast, Hong Kong, Australia, Singapore, New Zealand and Philippines were seen as the least complex for multinational companies when it comes to accounting and tax laws and practices, the report states.

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165: Daniel Raubenheimer

CFO Talks

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants. I went to the career counsellors at the department at the university and they basically said, judging from who you are and the discussions we’ve had and your aptitude test, we’d either recommend accounting or investment.

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Data Update 1 for 2021: A (Data) Look Back at a Most Forgettable Year (2020)!

Musings on Markets

While the universe of companies is diverse, with approximately half of all firms from emerging markets, it is more concentrated in market capitalization, with the US accounting for 40% of global market capitalization at the start of the year.

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166: Nicolaas van Wyk

CFO Talks

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants. So there’s huge opportunity for auditors, specialist accountants and a lot of requirements soon to be imposed on CFOs in terms of the Companies Act.

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