U.S. Securities and Exchange Commission’s Post

Staff in the Division of Economic and Risk Analysis recently published an analysis on custom tags used in eXtensible Business Reporting Language (XBRL) filings submitted in Forms 20-F, 20-F/A, 40-F and 40-F/A using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board for fiscal years 2021 through 2023. The analysis shows that custom tag rates for financial statements only and when combining financial statements and footnotes both held steady in 2023 compared with the custom tag rates in 2022. To read the analysis, please see: https://lnkd.in/e4th8UNv #XBRL hashtag #InlineXBRL hashtag #StructuredData hashtag #IFRS

Companies should be aware of the recent updates to the International Financial Reporting Standards (IFRS) concerning the derecognition of financial assets and liabilities. Check the key points here.

As an investor, it's crucial to understand the concept of internal control over financial reporting (ICFR) when evaluating potential investments or monitoring your existing portfolio companies. ICFR is a process designed and implemented by a company's management to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with generally accepted accounting principles (GAAP). The importance of ICFR lies in its ability to safeguard against material misstatements or errors in financial reporting, which could potentially mislead investors and stakeholders. Effective ICFR helps to ensure that a company's financial statements accurately reflect its financial position, results of operations, and cash flows, thereby fostering transparency and accountability. Read as an article: https://lnkd.in/d_ci7um8 Subscribe to TheSEC.AI today https://www.thesec.ai #TheSECAI Join our Discord https://lnkd.in/gKfM7_zU to #OpenSourceWallStreet

Which of the above is NOT a duty of the International Financial Reporting Standard (IFRS) Interpretation Committee? Share your thoughts below 👇 #ifrs #efficacyprofessionalservices #efficacyprofessionals #tuesdayquestion #accountingfirm #taxservices

International Financial Reporting Standards, (IFRS )and the Basic Development of Their Application to Small and Medium Enterprises

📊 Dive into IFRS-7: Financial Instruments Disclosures! 📊 IFRS-7 plays a crucial role in enhancing transparency and understanding of financial instruments held by entities. Here's a quick overview: 🔍 Disclosure Requirements: IFRS-7 mandates comprehensive disclosures regarding the nature and extent of an entity's exposure to financial risks. This includes details on financial assets and liabilities, such as their carrying amounts, fair values, and contractual maturities. 📈 Significance: By providing investors and stakeholders with relevant information about an entity's financial instruments, IFRS-7 promotes informed decision-making and better risk assessment. It ensures transparency in financial reporting and fosters trust in the capital markets. 💡 Key Disclosures: Entities must disclose information on credit risk, liquidity risk, and market risk associated with financial instruments. This includes details on credit ratings, maturity analysis, and sensitivity analysis to market variables. 🔄 Fair Value Measurement: IFRS-7 requires entities to disclose the methods and assumptions used in determining the fair values of financial instruments. This facilitates comparability and understanding of reported values across different entities. 📑 Disclosures for Complex Instruments: For complex financial instruments, such as derivatives and structured products, additional disclosures are necessary to provide a clear understanding of their nature, risks, and potential impact on the entity's financial position. 🌐 Global Adoption: IFRS-7 is part of the International Financial Reporting Standards (IFRS), ensuring consistency and comparability of financial disclosures across jurisdictions worldwide. In summary, IFRS-7 empowers investors and stakeholders with comprehensive insights into an entity's exposure to financial risks and the nature of its financial instruments. By promoting transparency and accountability, it contributes to the integrity and efficiency of financial markets. #IFRS7 #FinancialDisclosures #TransparencyInReporting

Completed With International Financial Reporting Standards (IFRS) Which is a set of accounting standards that govern how particular types of transactions and events should be reported in financial statements. 

The need to understand the International Financial Reporting Standards (IFRS) is inevitable for finance professionals. Below is a well detailed chart breaking down IFRS - 9. The attached PDF file contains five flowcharts related to IFRS-9, organized by topic: 1: Classification and Initial measurement of financial instruments 2: Estimated Credit Loss (ECL) / Impairment 3: Derecognition of Financial Assets 4: Modification and Derecognition of Financial Liabilities 5: Hedging Follow Muzammil Hussain Korai for content covering IFRS, IAS and other finance/accounting concepts. Share.

#IFRS18 Presentation and Disclosure in Financial Statements brings significant changes to how companies present their income statement and what information they need to disclose. It also makes certain ‘non-GAAP’ measures part of their audited financial statements for the first time. #IFRS18 promotes a more structured income statement, as set out in the article below. In particular, it introduces a newly defined ‘operating profit’ subtotal and a requirement for all income and expenses to be classified into three new distinct categories based on a company’s main business activities. Read more about #IFRS18 in the link below 👇

Ascendere is bringing a short session focused on recent changes in International Financial Reporting Standards (IFRS) to keep you updated on the most important changes. Stay tuned for more details. You can register using the link: https://lnkd.in/dSa8whga #AscendwithAscendere #finance #financialreporting #learninganddevelopment #financialreports #organizationaldevelopment #financemanagement #ifrs #updates #financialeducation