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Fixed asset impairment refers to the decrease in the value of a long-term asset on a company’s balance sheet, signaling that the asset’s carrying amount exceeds its recoverable amount. Understanding the tax treatment of fixed asset impairment is crucial for businesses to accurately reflect their financial position and comply with tax regulations. This guide aims […]
Fixed Asset Impairment Tax Treatment: A Complete Guide Read More »
Unlock the secrets of ASC 606: Revenue Recognition and Beyond with our comprehensive guide. Dive in to master compliance, industry impacts, and more!
ASC 606: Revenue Recognition and Beyond – Full Guide Read More »
Intangible assets drive value and competitive advantage. Accounting for these intangibles requires a comprehensive framework, and that’s where ASC 350 (Intangibles – Goodwill and Other) comes into play. This article explores the key aspects of ASC 350, providing insights into the accounting and financial reporting requirements for intangible assets. What are Intangible Assets? Under ASC
A Guide to Complying with ASC 350 Intangibles – Goodwill and Others Read More »
Accounting Standards Codification (ASC) 360-10, also known as the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 360-10, provides guidance on impairment testing of long-lived assets. These assets, such as property, plant, and equipment, are critical components of a company’s financial health. Adhering to ASC 360-10 ensures that companies accurately assess and report any
A Guide to Complying with ASC 360-10 Impairment Testing of Long-Lived Assets Read More »
ASC 852: Accounting for Fresh Starts after restructuring, bankruptcy, or ownership changes. Accurately reflect your financial position for a successful new beginning.
A Guide To Complying with ASC 852, Fresh Start Accounting Read More »
Accounting for Plant, Property, and Equipment (PP&E) under the IFRS component approach outlines the steps involved in recognizing and measuring individual components, including identification, separate recognition, initial measurement, subsequent measurement, depreciation, impairment, and disclosure requirements.
A Guide to Complying with the IAS 16 – Property, Plant and Equipment Read More »
IFRS 13 provides guidance on fair value measurement and disclosure requirements for financial instruments, intangible assets, and other non-financial assets and liabilities. It aims to improve consistency and comparability in fair value measurements and disclosures across different financial reporting frameworks. Fair value is a widely recognized accounting concept, while IFRS 13 being the framework responsible
A Guide to Complying with the IFRS 13 – Fair Value Measurement Read More »
This article explores the differences between GAAP and IFRS lease accounting standards and their implications for both lessees and lessors.
IFRS vs US GAAP: Leasing Read More »
ASC 360 provides guidance on accounting for property, plant, and equipment. Get the facts on key compliance rules and regulations here.
A Guide to Complying with the ASC 360 Property, Plant and Equipment Read More »
Leases are fundamental for a company and legal entity as they deal with leases. Therefore, get to know IFRS 16 – Leasing and its information.
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