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IAS 19 is an international accounting standard that explains how to account for wages, pensions, life insurance and other perquisites. It covers topics such as actuarial valuation, funding, assumptions, surplus, settlement and curtailment of employee benefit plans.
Learn about the history, adoption, and conceptual framework of IFRS, the global accounting standards issued by the IFRS Foundation and the IASB. Compare IFRS with US GAAP and other national standards, and see the profiles of IFRS use in 166 jurisdictions.
Substance over form is an accounting principle that ensures financial statements reflect the economic reality of transactions and events, rather than their legal form. Learn how this principle is applied in various situations, such as leasing, inventory, and independent contractors.
IFRS 9 is an international standard that addresses the classification, measurement, impairment and hedge accounting of financial instruments. It came into force in 2018, replacing IAS 39, and has four possible categories for financial assets: amortized cost, fair value with changes in profit and loss, fair value with changes in other comprehensive income and fair value with changes in profit ...
This is a list of the IFRSs and official interpretations, as set out by the IFRS Foundation. It includes accounting standards either developed or adopted by the International Accounting Standards Board (IASB), the standard-setting body of the IFRS Foundation.
The IASB is the independent accounting standard-setting body of the IFRS Foundation, responsible for developing and promoting International Financial Reporting Standards (IFRS). Learn about its history, members, due process, funding and related terms.
The IASC was founded in 1973 and dissolved in 2001, developing a set of International Accounting Standards (IAS) that were later adopted as International Financial Reporting Standards (IFRS). The IASC was an initiative of national accountancy bodies from various countries, and its membership expanded over time to include some non-auditor organizations.
Learn how liability-driven investment (LDI) is an investment strategy based on the cash flows needed to fund future liabilities, such as retirement or pension payments. Compare LDI with benchmark-driven investment and see examples and references.