In today’s fast-changing financial world, accountants and finance professionals must stay updated with global reporting standards. IFRS (International Financial Reporting Standards) has become the international language of business, and earning a Diploma in IFRS (DipIFR) is now one of the most valuable qualifications for career growth. Finpro Consulting has emerged as a globally trusted institute for DipIFR training, helping thousands of professionals worldwide upgrade their skills, clear the exam, and advance their careers with confidence. Here’s why Finpro stands out.   1. Expert-Led Training by Industry Professionals Finpro’s DipIFR program is taught by qualified IFRS experts with years of corporate and teaching experience . Their deep understanding of IFRS concepts, real-world applications, and exam patterns helps students learn faster and smarter. Instead of memorizing, students learn practical interpretation, case-based understanding, and exam-specific strategies t...

In our previous blogs, we discussed methods of  fair value measurement  and various concepts associated with fair value of asset and liability. With the help of the concepts discussed, one should ensure that an exit price is based on market participants’ assumptions and entity-specific factors are not considered while measuring fair value. In this blog, we’ll discuss on  IAS 36: Impairment of assets.  IAS 36 is an accounting standard that helps companies ensure their assets are not valued higher than what they can actually recover from using or selling them. When an asset’s recorded value exceeds its recoverable amount (the higher of fair value less costs to sell or the value in use), it is said to be impaired. The standard requires companies to test assets for impairment regularly, especially for goodwill and certain intangible assets, and to reduce the asset’s value, if required, by recognizing an impairment loss. This ensures that financial statements reflects a r...

  Under IFRS, fair value is one of the vital measurement basis for the measurement or disclosure of few assets and liabilities. Some of the IFRSs contained limited guidance about how to measure fair value, whereas others contained extensive guidance and that guidance was not always consistent and sometimes ambiguous. Inconsistencies in the requirements for measuring fair value and for disclosing information about fair value measurements have contributed to diversity in practice and have reduced the comparability. This resulted in the issue of IFRS 13 – Fair value measurements, providing single source of guidance on all fair value measurement, clarity in definition, reducing earlier ambiguity and enhancing disclosures etc. IFRS 13  provides framework for measuring fair value, enhancing consistency and comparability in financial reporting. In this blog we’ll discuss, evaluate the definition of fair value and its key aspects and determine how to apply the same in arriving at the ...