Explore our insights

International Accounting Standard No. 36 (IAS 36) ‘Impairment of Assets’ is not a new Standard, and while many of its requirements are familiar, an impairment review of assets (either tangible or intangible) is frequently challenging to apply in practice.

The IASB has published IFRS 15 ‘Revenue from Contracts with Customers’ which is effective for annual reporting periods beginning on or after 1 January 2018.

This newsletter sets out how an entity should determine if the transaction is a business combination, and whether it is within the scope of IFRS 3.

IFRS 16 represents the first major overhaul of lease accounting in over 30 years. The Standard will affect most companies that report under IFRS and are involved in leasing, and will have a substantial impact on the financial statements of lessees of property and high value equipment.