INTRODUCTION TO CONSOLIDATION AND GROUP ACCOUNTS

Group accounts, consolidation and accounting for investments in general, seem to be very popular IFRS topics. I know they are examined frequently during any accounting exam, including ICAN or ACCA. Also, when any company acquires some new investment, then consolidation, group

UNDERSTANDING FOREIGN CURRENCIES

Many companies develop foreign activities for many reasons and everything seems to be globalizing now. It means that foreign activities of any company are more and more significant. And of course, financial statements of foreign businesses have become more important, too. But here is the issue: Still, the world does not use a single currency. Instead,

THREE (3) RULES TO BECOME AN IFRS Pro

IFRS is really a very hard and demanding course as it is NOT easy to find enough time to learn it; especially if you run a business, raise a family or study for a lot of exams.

Technical Summary IFRS 1 First-time Adoption of International Financial Reporting Standards

The objective of this IFRS is to ensure that an entity’s first IFRS financial statements, and its interim financial reports for part of the period covered by those financial statements, contain high quality information that:

(a) is transparent for users and comparable over all periods presented;

(b) provides a suitable starting point for accounting in accordance with International Financial Reporting Standards (IFRSs); and

ADOPTION OF THE INTERNATIONAL FINANCIAL REPORTING STANDARD BY NIGERIA – ACCOUNTING IMPLICATIONS FOR INSURANCE BUSINESS

1.     PREAMBLE

The full adoption of IFRS by Nigeria is no longer news but a reality which, must be embraced by all concerned professionals. Therefore, the topic for this retreat is very germane and apt at this crucial time when insurance companies listed on the exchange are expected to convert to IFRS in 2012 going by the road map for its