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Recognition and Initial Measurement of Property, Plant and Equipment (PPE) as per IAS 16

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  T ngible fixed asset is a key resource for any business and generally represents a significant portion of the net worth captured on the balance sheet. These fixed assets help businesses to run its operating activities and thereby generating revenue. Apart from generating future economic benefits, amount of such tangible assets is also used in various vital ratios which are regularly analysed by the users of financial statements. IAS 16 -“Property, Plant, and Equipment” (PPE), is a basic and vital International Financial Reporting Standard (IFRS) that provides guidelines on the accounting of tangible fixed assets. IAS 16 provides the accounting principles for recognition, initial and subsequent measurement, presentation, derecognition and disclosure for the PPE in the financial statements. In essence, IAS 16 provides in depth guidance on the topics like when to recognise PPE in the financial statements, how to measure asset initially i.e. measurement basis (viz. cost), which expen...
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ACCA Diploma in IFRS June 2025 Exam: Fees, Dates, Study Tips & Complete Guide

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  The ACCA Diploma in IFRS (DipIFR) is a globally recognized qualification designed for finance professionals looking to enhance their understanding of International Financial Reporting Standards (IFRS). The upcoming June 2025 IFRS exam is a great opportunity for candidates to advance their careers in accounting and financial reporting. Here’s everything you need to know about the June 2025 DipIFR exam :  1. Exam Date The ACCA Diploma in IFRS examination is expected to be held on the 05 th & 06 th of June-25 . Candidates should keep an eye on the ACCA website/email for updates. 2. Registration Deadlines Candidates must register for the exam within the specified deadlines. The expected registration deadline for the June 2025 IFRS is on/before 07-April-2025. Standard Registration : Closes approximately 2 months prior the exam date How to Register? Visit the official ACCA website. Create an ACCA account or log in. Fill out the DipIFR registration f...
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Scope of IFRS and Objective, Growth and Skilling in IFRS

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  What is the Scope of IFRS? As per the survey by  IASB , more than 140 countries mandate or allows the use of IFRS for the financial reporting purpose of their publicly accountable entities. This includes the European Union, many countries in Asia and Latin America, and Canada etc. In U.S.A., they use US GAAP (Generally Accepted Accounting Principles) for financial reporting purposes of the publicly listed entities. However, U.S. allows foreign private issuers to present their financial statements using IFRS for reporting purposes.   Objectives of IFRS: Why They Matter The purpose of IFRS is to bring harmony in the accounting language and bring ease in doing business internationally by standardising financial reporting across the globe. Accordingly, making it easier for investors, regulators, and other stakeholders through the financial statements which are reliable, transparent and comparable even from different organizations from various countries. India made a com...
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Live vs. Self-Paced IFRS Online Classes: Which One Is Right for You

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  Introduction As financial training has changed its methodologies, IFRS online classes are now crucial for those professionals who are looking to upskill. Among the most popular learning formats are live and self-paced IFRS online classes. Choosing the right format depends on your goals, schedule, and learning style. You can read on and decide how to learn IFRS online: through live or self-paced classes. IFRS Classes: Live and Online Live IFRS classes are conducted virtually but in real-time in which participants can interact directly with both their instructors and peers online. These interactive sessions in virtual classrooms run with preset schedules and structured guidance. Features: The best features of IFRS courses for professionals include: ·         Live instructor-led courses ·         Live Q&A sessions for instant doubt clarification ·         Varied oppor...
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