Search results
Results From The WOW.Com Content Network
IAS 19 or International Accounting Standard Nineteen rule concerning employee benefits under the IFRS rules set by the International Accounting Standards Board. In this case, "employee benefits" includes wages and salaries as well as pensions, life insurance, and other perquisites. The rules in IAS 19 explains the accounting for longer term ...
t. e. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [ 1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable ...
Impairment (financial reporting) Impairment of assets is the diminishing in quality, strength, amount, or value of an asset. An impairment cost must be included under expenses when the book value of an asset exceeds the recoverable amount. Fixed assets, commonly known as PPE (Property, Plant & Equipment), refers to long-lived assets such as ...
The Dearness Allowance (DA) is a calculation on inflation and allowance paid to civil servant employees (alongside public sector enterprises’ employees as public sector unit employees are also government employees but not civil servants), some private sector employees and civil servant pensioners in India . Dearness Allowance is calculated as ...
e. Employee benefits and benefits in kind (especially in British English ), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. [ 1] Instances where an employee exchanges (cash) wages for some other form of benefit is generally ...
Expenses recognised in the income statement should be analysed either by nature (raw materials, transport costs, staffing costs, depreciation, employee benefit etc.) or by function (cost of sales, selling, administrative, etc.). (IAS 1.99) If an entity categorises by function, then additional information on the nature of expenses, at least ...
Statement of Changes in Financial Position (1977) Cash Flow Statements (1992) Statement of Cash Flows (2007) 1977. January 1, 1979. IAS 8. Unusual and Prior Period Items and Changes in Accounting Policies (1978) Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies (1993)
In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement. In U.S. Generally Accepted Accounting Principles (U ...