What is IFRS 16? IFRS 16 – Leases is an International Financial Reporting Standard issued by the IASB (International Accounting Standards Board) that provides guidance on accounting for leases. It came into effect on 1 January 2019, replacing the older…
IFRS 15 is one of the most important international accounting standards. It affects how and when companies recognize revenue. Whether you’re a student studying for ACCA, CA, CPA, ICAEW, or a professional in finance, understanding IFRS 15 is essential. This…
IFRS 1 stands for First-Time Adoption of International Financial Reporting Standards. It is used when a company adopts IFRS for the first time — switching from local accounting standards (like Pakistani GAAP, Indian GAAP, etc.) to international ones. This standard…
