Publication Identifying a business combination within the scope of IFRS 3
Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which are challenging in practice.
Industry analysis Banking sector analysis
Grant Thornton's recent analysis of the banking sector in Armenia, is mainly based on the review of historical data.
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Publication Hotel industry: navigating the impact of COVID-19
The hotel industry is dealing with an unprecedented crisis due to the disruption caused by the global COVID-19 pandemic.
Publication Grant Thornton’s Virtual office
Grant Thornton’s Virtual office is an innovative platform that completely changes the existing model of delivering our services to your business. It integrates the crucial tools necessary for smooth running of such business processes, as communication, document exchange, task management, financial and operational reporting, with advanced analytics and easy-to-understand visualization in one space. We have designed the Virtual Office to make your collaboration with Grant Thornton’s team significantly efficient and more comfortable. The platform is intended for executives and managers of Grant Thornton's partner organizations and decision-makers.
The International Financial Reporting Standard for Small and Medium Sized Entities ('IFRS for SMEs') is a self-contained standard. It is based on full IFRS but simplified to meet the needs of the entities within its scope.
The IASB has published '2015 Amendments to the International Financial Reporting Standard for Small and Medium Sized Entities'. These amendments are the outcome of the IASB's first comprehensive review of the requirements of the IFRS for SMEs, and are the only changes made to the Standard since it was initially published in 2009. The amendments that we believe will have the most significant impact are as follows:
- permitting the use of the revaluation method when accounting for property, plant and equipment
- aligning the basis of recognition and measurement for deferred income taxes with IAS 12 'Income Taxes'
- aligning how entities account for exploration and evaluation assets with the requirements of IFRS 6 'Exploration for and Evaluation of Mineral Resources'
This special edition of IFRS News tells you more about the IASB's Amendments and the IFRS for SMEs in general.
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