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  2. List of International Financial Reporting Standards - Wikipedia

    en.wikipedia.org/wiki/List_of_International...

    First-time Adoption of International Financial Reporting Standards 2003 January 1, 2004: IFRS 2: Share-based Payment: 2004 January 1, 2005: IFRS 3: Business Combinations: 2004 April 1, 2004: IFRS 4: Insurance Contracts: 2004 January 1, 2005: January 1, 2023 IFRS 17: IFRS 5: Non-current Assets Held for Sale and Discontinued Operations 2004 ...

  3. IAS 16 - Wikipedia

    en.wikipedia.org/wiki/IAS_16

    The standard does not apply to assets classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations and assets which require more specialised accounting, such as biological (IAS 41 Agriculture), exploration and evaluation assets (IFRS 6 Exploration for and Evaluation of Mineral Resources ...

  4. International Financial Reporting Standards - Wikipedia

    en.wikipedia.org/wiki/International_Financial...

    International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...

  5. Fixed asset - Wikipedia

    en.wikipedia.org/wiki/Fixed_asset

    Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are referred to as fixed. While IAS 16 (International Accounting Standard) does not define the term fixed asset, [2] it is often colloquially considered a synonym for property, plant and ...

  6. IFRS 5 - Wikipedia

    en.wikipedia.org/wiki/IFRS_5

    the asset's fair value less the cost of selling this asset. Non-current assets 'held for sale' should be presented separately on the face of the statement of financial position as a current asset. For a non-current asset (Fixed Asset) to be classified as 'held for sale', all of the following 4 conditions must be satisfied:

  7. IFRS 9 - Wikipedia

    en.wikipedia.org/wiki/IFRS_9

    IFRS 9 is an International Financial Reporting Standard (IFRS) published by the International Accounting Standards Board (IASB). It addresses the accounting for financial instruments . It contains three main topics: classification and measurement of financial instruments, impairment of financial assets and hedge accounting .

  8. Financial accounting - Wikipedia

    en.wikipedia.org/wiki/Financial_accounting

    However, an IFRS-compliant balance sheet must list assets/liabilities based on increasing liquidity, from least liquid to most liquid. As a result, non-current assets/liabilities are listed first followed by current assets/liabilities. [7] Current assets are the most liquid assets of a firm, which are expected to be realized within a 12-month ...

  9. Net realizable value - Wikipedia

    en.wikipedia.org/wiki/Net_realizable_value

    Net realizable value (NRV) is a measure of a fixed or current [1] asset's worth when held in inventory, in the field of accounting.NRV is part of the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) that apply to valuing inventory, so as to not overstate or understate the value of inventory goods.