athGADLANG’s Post

📌 #StandardSaturday: IFRS and Corporate Governance: Enhancing Accountability through Financial Reporting* *✅ Objective:* - The integration of IFRS with corporate governance frameworks strengthens accountability, transparency, and trust in financial reporting. - IFRS standards provide consistent, high-quality financial information that supports effective governance. *📌 Key Points:* *✅ Enhancing Transparency:* - IFRS ensures transparency by requiring comprehensive and comparable financial disclosures. - Provides stakeholders with clear insights into a company’s financial health, aiding in better decision-making. *✅ Strengthening Accountability:* - Corporate governance relies on accurate financial information to hold management accountable. - IFRS promotes responsibility by setting global standards for financial reporting, ensuring that financial statements reflect true economic performance. *✅ Supporting Ethical Practices:* - Strong corporate governance is built on ethical financial reporting, which IFRS supports by eliminating inconsistencies and reducing the potential for financial manipulation. - Promotes integrity in financial management, aligning with governance principles. *✅ Global Consistency:* - IFRS offers a uniform financial reporting language across borders, enhancing comparability and reducing the risk of governance failures in multinational companies. *✅ Impact for Business Owners:* - Adopting IFRS enhances your company’s reputation by demonstrating commitment to transparency and good governance. - Helps attract investors and partners by providing reliable financial information. *🤝 At FRFS, we understand the critical role that IFRS plays in supporting corporate governance. We’re here to help your business maintain the highest standards of financial accountability. Contact us at info@frfs.ae for expert guidance.* #IFRS #CorporateGovernance #FinancialReporting #Transparency #Accountability #UAEBusinessOwners #Dubai #EthicalBusiness

🌟 𝐄𝐥𝐞𝐯𝐚𝐭𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐮𝐦𝐞𝐧: 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐎𝐮𝐫 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐈𝐅𝐑𝐒 𝐖𝐨𝐫𝐤𝐬𝐡𝐨𝐩 We wrapped up an enriching 3-𝐃𝐚𝐲 𝐈𝐅𝐑𝐒 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐖𝐨𝐫𝐤𝐬𝐡𝐨𝐩, tailored for finance professionals looking to deepen their understanding of International Financial Reporting Standards (IFRS). This interactive training provided participants with critical insights into the latest developments and practical applications of IFRS, ensuring they are well-prepared to navigate the complexities of financial reporting. 📊 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: ✅ In-depth coverage of major IFRS updates, including IFRS 9, IFRS 15, IFRS 16, and IFRIC 19 ✅ Clear comparisons between GAAP and IFRS to understand the differences and implications ✅ Comprehensive insights into the new conceptual framework and integrated reporting strategies ✅ Hands-on case studies and exercises for real-world application of IFRS standards ✅ Strategies to avoid common pitfalls in IFRS implementation and best practices for compliance 🧑🏫 𝐋𝐞𝐝 𝐛𝐲 𝐏𝐫𝐨𝐟. 𝐇𝐞𝐧𝐭𝐢𝐞 𝐕𝐚𝐧 𝐖𝐲𝐤, a respected authority in financial reporting, participants benefited from his extensive knowledge and engaging teaching style, which made complex concepts accessible and actionable. 📅 𝐌𝐢𝐬𝐬𝐞𝐝 𝐭𝐡𝐢𝐬 𝐞𝐯𝐞𝐧𝐭? No problem! Stay tuned for future IFRS workshops designed to keep you ahead in the field of financial reporting. For more information or to reserve your spot, visit www.corsol.net or contact us at training@corsol.net #IFRSUpdates #FinancialReporting #AccountingStandards #FinanceLeadership #Corsol

Join our focused session on IFRS 18! I’ll be speaking at the "Mastering the New IFRS 18" webinar. This insightful session is designed to equip you with the critical knowledge and tools needed to navigate the new IFRS 18 standards effectively. Date: 26th September 2024 Time: 11:00 AM UAE Time Register Here: https://lnkd.in/dHJsu-GE What Can You Expect? During the webinar, we’ll cover essential topics including: - Introduction to IFRS 18: Understanding the fundamental changes and their impact on financial reporting. - Aggregation and Disaggregation: How to accurately present financial items under the new standards. - The New Income Statement: Exploring the updated structure and presentation requirements. - Management-Defined Performance Measures: Discover how to disclose information about management performance measures. Why Should You Attend? This webinar is your chance to: - Enhance Your Understanding: Gain a comprehensive overview of IFRS 18. - Learn Practical Strategies: Apply actionable insights directly to your financial reporting. - Engage in Interactive Q&A: I’ll be there to answer your questions and provide guidance tailored to your needs. 📌 Don’t Miss Out! If staying current with financial reporting standards is important to you, this webinar is a must-attend. Register now to secure your spot and join me tomorrow for a valuable session. Looking forward to your participation! Imad Uddin Shaikh Yasir Gadit Usman Alam Ammar Hussain Kaghdi Arshad Gadit - FCA, ACCA Saqib Nisar Minhal H. Maqbool, CFA, FCCA Numair Kulkarni, ACCA Umair A., ACA Faizan ur Rahman - Chartered Certified Accountant, Master of Commerce Ali Abdul Rehman, FCCA #Webinar #IFRS18 #Compliance #FinancialReporting #ProfessionalDevelopment #Finance #AccountingStandards #CorporateFinance #FinancialServices #Leadership #UAE #Dubai #athGADLANG athGADLANG Wathiq

Don’t Miss Out on Our IFRS 18 Webinar! Our "Mastering the New IFRS 18" webinar is just days away, and we’re almost at capacity! If you haven’t secured your spot yet, now is the time to do so. Date: 26th September 2024 Time: 11:00 AM - 12:30 PM (UAE Time) Register Here: https://lnkd.in/dvcCJFdd Why You Should Attend: Our expert speakers, Imad Uddin Shaikh and Khushboo Mushtaq ACA, are set to provide in-depth insights and practical guidance on the new IFRS 18 standards. This is your opportunity to: • Master IFRS 18 Requirements: Get a comprehensive understanding of the changes and their impact on your financial statements. • Learn Aggregation and Disaggregation Techniques: Discover how to properly group and separate financial items under the new rules. • Navigate the New Income Statement: Understand the structural changes and how to present your financial data effectively. • Implement Management-Defined Performance Measures: Discover how to disclose information about management performance measures. Who Will Benefit: • Finance Professionals • Accountants & Auditors • CFOs & Financial Controllers • Compliance Officers • Investment Managers And anyone looking to stay ahead in the financial reporting landscape! Time is running out! Don’t miss this chance to gain valuable insights and ensure your organization is prepared for the new IFRS 18 standards. Register today and join us for a session packed with actionable knowledge and industry best practices. #Webinar #IFRS18 #Compliance #FinancialReporting #ProfessionalDevelopment #Finance #AccountingStandards #CorporateFinance #FinancialServices #Leadership #UAE #Dubai #athGADLANG aG Resources aG Corporate Services Wathiq

Summary of IFRS 13 - Fair Value Measurement 📌Effective Date: January 1, 2013 (earlier application permitted). ✅Objective: - Establishes a single framework for measuring fair value and provides guidance on fair value measurements in financial reporting. - Aims to enhance consistency and transparency in valuation practices across different asset classes and markets. 📌Key Points: ✅Definition of Fair Value: Fair value is the price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Framework for Fair Value ✅Measurement: - Offers a clear framework for measuring fair value when required by other IFRS standards. - Emphasizes market-based inputs and observable market data when available. ✅Valuation Techniques: - Allows flexibility in choosing appropriate valuation techniques for the asset or liability being valued. - Requires disclosure of the valuation techniques used and their inputs. ✅Hierarchy of Inputs: -Classifies inputs into three levels based on their observability (Level 1: quoted prices in active markets, Level 2: observable inputs other than quoted prices, Level 3: unobservable inputs). ✅Disclosure Requirements: -Requires extensive disclosures about fair value measurements, including methods and assumptions used, the impact on financial statements, and sensitivity to changes in key inputs. ✅Standard History: Introduced to unify fair value measurement across different standards and ensure consistent reporting. 📌Impact for Business Owners: ✅Enhanced Transparency: Provides clear guidelines for measuring fair value, improving transparency in financial reporting. ✅Better Decision Making: Helps stakeholders understand valuation methods and assumptions, aiding investment and financial decisions. ✅Compliance Requirement: Ensures correct reporting of fair value measurements under IFRS 13, crucial for compliance and financial statement reliability. 🤝Understanding and applying IFRS 13 correctly is essential for business owners to maintain transparency, comply with standards, and provide accurate financial information. At FRFS, we offer professional accounting and bookkeeping services that align properly with these standards. For guidance on implementing IFRS 13 in your business, contact us at info@frfs.ae. #IFRS13 #FairValueMeasurement #FinancialReporting #UAEBusinessOwners #Dubai #Transparency #Compliance

The world of finance is constantly evolving, and with it, the standards that govern financial reporting. The International Accounting Standards Board (IASB) has recently introduced IFRS 18, a new standard that significantly alters the presentation and disclosure in financial statements. This change is a pivotal moment for professionals and companies alike, as it aims to enhance transparency and comparability across financial documents. IFRS 18 introduces mandatory sub-totals in the statement of profit or loss, a move that standardizes the structure of income statements and improves comparability. This means that operating, investing, and financing activities are now distinctly categorized, providing a clearer picture of a company's financial performance. Moreover, the standard addresses the transparency of management defined performance measures, requiring companies to disclose explanations of these measures related to the income statement. This ensures that investors and stakeholders have a better understanding of how these figures are calculated and how they relate to the required measures in the income statement. The implications of IFRS 18 are far reaching. It not only affects the way financial statements are presented but also enhances the discipline and transparency of management defined performance measures, making them subject to audit. This is a significant step forward in providing more detailed and useful information to investors, thereby aiding better investment decisions. IFRS 18 will replace IAS 1 and is effective for annual reporting periods beginning on or after January 1, 2027. For more insights on IFRS 18 and its impact on financial reporting, you can refer to the detailed documentation provided by the IASB. Let's navigate these changes together and set a new standard for financial excellence. Please feel free to contact me if there are any additional topics or areas that I should address in the forthcoming posts, ensuring comprehensive coverage. #IFRS18 #FinancialReporting #AccountingStandards #Transparency #InvestorRelations #IFRS #Accounting #ACCA #Compliance #FinanceProfessionals IFRS Foundation ACCA ACCA Middle East

#IFRS18: A New Era in Financial Performance Reporting or It is all about investors`! 💰 💡The primary focus of IFRS 18 is on the Profit and Loss statement. There are three main requirements as per IFRS 18: 📌Subtotals and Categories in the statement of #P&L ☑️Three defined categories: operating, investment, and financing. ☑️Two mandatory subtotals: operating profit and profit before financing and income tax. 📌Grouping requirement - aggregation and disaggregation of information. ☑️Rules for allocation of information between the primary financial statements and the notes. ☑️Defined requirements for grouping information and using meaningful labels for items presented or disclosed. N.B ❗ This means that expenses with different natures cannot be lumped together under a generic category like "other operating expenses" anymore. ☑️Disaggregation requirements for presenting and disclosing operating expenses.   📌Management-defined Performance Measures (MPMS) ☑️IFRS 18 requires companies to use MPMS in a disciplined manner. ☑️Must provide a clear calculation methodology for each MPMS ☑️Ensure that they are not included in the financial statements. 💡 Overall, IFRS 18 will bring more clarify and transparency into the Financial Reports and is not so scary in terms of implementation. 🗓️The effective date - January 1, 2027 Early Application permitted Applied retrospectively 👏 Special thanks to ACCA Middle East and Hesham A. Metwally, CPA, CMA for late evening discussion on that absolutely exciting topic. ✍🏻From your trustful accountant 💄 #Reporting #Finance #Business #Investors #Consulting #UAE #ACCA

Did you know a recent survey found that 78% of Saudi businesses reported feeling unprepared for IFRS 16 implementation? 😰 Feeling overwhelmed? Don't sweat it! Prima Consulting can be your guide. Here's how we can help: Compliance made easy: We ensure your financial statements are compliant with the new standard. ✅ Transparency boost: IFRS 16 provides a clearer picture of your company's financial health, potentially improving your access to financing by demonstrating stronger financial control and long-term liabilities. 📈 Expert guidance: Our team of IFRS 16 specialists has the knowledge and experience to guide you through every step. 🧠 Don't let IFRS 16 become a headache! Get in touch with Prima Consulting today (https://lnkd.in/efrfxcYX) and achieve accurate & compliant financial reporting. 📞 #SaudiBusinesses #IFRS16Implementation #FinancialClarity #AccountingExperts #KSAFinance #SaudiAccountants #IFRSCompliance #LeaseAccounting #FinancialRegulations #ZASCA #SaudiAccountingStandards #FinancialRiskManagement #SaudiAuditing #KSAFinancialServices #SaudiInvestment #SaudiEconomy #BusinessGrowth #FinancialPlanning #FinancialModeling #AccountingSoftware #AccountingTechnology #FinancialPerformance #SaudiEntrepreneurship

📊 Understanding Accounting Principles: The Role of IFRS in Global Finance 🌍 In today’s interconnected world, standardized financial reporting is essential for businesses operating across borders. International Financial Reporting Standards (IFRS) play a pivotal role in ensuring clarity and consistency in financial statements. 🔍 Why IFRS Matters: Consistency: IFRS provides a universal accounting language, making it easier for investors to compare financial performance across different countries. Transparency: Adhering to IFRS allows companies to present a clear and accurate picture of their financial health, fostering trust among stakeholders. Flexibility: These standards enable businesses to adapt to various markets and financial environments, facilitating global expansion. 💡 Key Principles of IFRS: Accrual Basis: Transactions are recorded when they occur, not when cash is exchanged, providing a more accurate financial picture. Going Concern: Assumes that a business will continue operating for the foreseeable future, ensuring sustainable financial planning. Materiality: All relevant financial information must be disclosed, preventing misleading financial statements. In a rapidly evolving financial landscape, understanding and implementing IFRS is crucial for accounting and finance professionals. It ensures compliance and empowers organizations to make informed decisions based on reliable data. Let’s prioritize transparency and consistency in our financial reporting for better decision-making and trust-building! #Accounting #IFRS #FinancialReporting #GlobalStandards #FinanceProfessionals #CMA #ACCA #CA

& Proudly Certified in IFRS! • # I am thrilled to announce that I have successfully completed the Diploma in International Financial Reporting Standards (IFRS)! & This achievement marks a significant milestone in my professional journey. #IFRS #CertifiedProfessional #AccountingStandards #FinancialReporting #CareerMilestone #Opportunities #Networking