Cryptocurrencies and related transactions: accounting considerations under IFRS
How to recognise, measure and disclose activities associated with the issuances of, and the investment in, cryptocurrencies
IFRS 15: revenue reporting’s global makeover
22 February, 2017
In a recent article published on Vietnam Investment Review, PwC Vietnam’s Partner of Assurance Services Tran Hong Kien highlighted the major changes introduced in the International Financial Reporting Standard 15 (IFRS 15) Revenue from Contracts with Customers, and its potential impacts to businesses that prepare IFRS financial statements.
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Transition to IFRS with PwC: Where to start?
With the approval from the Ministry of Finance on the Vietnam Financial Reporting Standards roadmap in Decision 345/QD/BTC, it is now essential for eligible entities to begin preparations towards International Financial Reporting Standards (IFRS) compliance, and to be open to opportunities for business transformation....
07 key considerations in IFRS-related financial reporting during COVID-19
Without a doubt, we are operating in unusual times. COVID-19 will have far-reaching, perhaps even unforeseeable, impacts on business outcomes. A key to building trust during these uncertain times is with transparent and reliable information provided through financial reporting. In this NewsBrief, we will explore seven...
IFRS 15 - Revenue from Contracts with Customers
IFRS 15 introduces a new 5-step model with a focus on when ‘transfer of control’ occurs (rather than when ‘risk and rewards’ are passed to customers). The impact extends beyond accounting (e.g. contracts, executive compensation agreements, tax, debt covenants, investor relations, operational processes and systems,...
Should borrowing costs be capitalised on qualifying expenditures incurred before borrowing costs are incurred?
International Accounting Standard no. 23 (IAS 23), ‘Capitalisation of borrowing costs’, is one of the shortest standards in IFRS. However, practical implementation of this seemingly simple standard often raises questions for which the standard does not give clear answers. One of practical implementation questions is...
IFRS 16 – a new era of lease accounting!
In January 2016 the International Accounting Standards Board (IASB) issued IFRS 16, ‘Leases’, and thereby started a new era of lease accounting – at least for lessees!
IFRS 15: revenue reporting’s global makeover
In a recent article published on Vietnam Investment Review, PwC Vietnam’s Partner of Assurance Services Tran Hong Kien highlighted the major changes introduced in the International Financial Reporting Standard 15 (IFRS 15) Revenue from Contracts with Customers, and its potential impacts to businesses that prepare IFRS...
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