Accounting Standards
IFRS, SFRS, and Singapore-specific standards — interpretation, application, common misapplications, and updates.
Expense Presentation by Nature or by Function
Under IFRS, expenses in the income statement can be presented by nature or by function. This choice affects comparability, disclosure requirements, and the quality of information available to users.
Tax Reconciliation
A numerical reconciliation of tax expense to accounting profit is required under IAS 12. This article walks through the concept, the difference between permanent and temporary differences, and how deferred tax fits into the reconciliation.
Lease Accounting Under IFRS 16
IFRS 16 requires lessees to recognise nearly all leases on the balance sheet. This article explains the key concepts, common challenges with inconsistent payment schedules and misaligned lease periods, and how the standard affects financial statement preparation.
Leave Accrual
Leave accrual is required for accumulating paid absences under IAS 19, regardless of whether the leave is vesting. This article explains what to accrue, when, and how to measure it correctly.
SFRS vs SFRS SE
Singapore private companies choose between SFRS and SFRS SE for statutory financial reporting. This article explains the eligibility criteria for SFRS SE, key differences in lease, impairment and disclosure requirements, and practical factors to consider when selecting a framework.
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