Founder, Faculty - Global Fin X
ACCA (Affiliate), CMA(US), CSCA(US), Dip IFRS, AFA (UK), MIPA (Aus), M.Com, M.B.A
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IFRS for SMEs
A focus on the International Financial Reporting Standard for small to medium-sized entities. The principal aim when developing accounting standards for small to medium-sized enterprises (SMEs) is to provide a framework that generates relevant, reliable and useful information which should provide a high quality and understandable set of accounting standards suitable for SMEs. In July…
Business finance
Section E of Financial Management syllabus deals with business finance: What types of finance? What sources? What mix? The article will first consider a business’s formation and initial growth, then a company that is well-established and mature, and will look at the financing choices and decisions that could face it at various stages. Formation and…
Big data and performance management
Big Data refers to the large collections of data that may be analysed to reveal patterns, trends and associations, especially relating to human behaviour and interactions. This article will describe some real life examples of the use of Big Data for performance management and measurement purposes. Performance management involves managing the organisation in order to…
IFRS 9, Financial Instruments
IFRS® 9, Financial Instruments, is the result of work undertaken by the International Accounting Standards Board (the Board) in conjunction with the Financial Accounting Standards Board (FASB) in the US. It was last revised in October 2017. This article focuses on the accounting requirements relating to financial assets and financial liabilities only. Classification of financial…
Answering audit risk questions
This article aims to identify the most common mistakes made by candidates in answering audit risk questions as well as clarifying how such questions should be tackled in order to maximise marks. Candidates studying Paper F8, Audit and Assurance, are required under the syllabus to: ‘Explain the components of audit risk and explain the risks…
When does debt seem to be equity?
The classification of debt and equity in an entity’s statement of financial position is not always easy for preparers of financial statements. Many financial instruments have both features with the result that this can lead to inconsistency of reporting. IAS® 32 clarifies the definition of financial assets, financial liabilities and equity. In doing so, it…