The main purpose of evaluation is to determine the financial position and the outcome of the entity’s activity. With the intensification of the phenomena of globalization of economies and financial markets and the emergence of phenomena such as inflation, it began to be more often used the...

The International Accounting Standards Board issued the International Financial Reporting Standard 8 Operating Segments. Segment information is one of the most vital aspects of financial reporting for investors and other users. The IFRS 8 requires an entity to adopt the ‘management approach’...

The need to establish international accounting standards with regards to financial instruments is due to their spectacular evolution on global financial markets, which took place over the last couple of decades. Thus, the accounting practices used for financial instruments have been...

The International Accounting Standards Committee issued the the International Accounting Standard 19, Employee Benefits. The objective of IAS 19 is to is to prescribe the accounting and disclosure for employee benefits (that is, all forms of consideration given by an enterprise in exchange for...

The International Accounting Standards Committee issued the the International Accounting Standard 18, Revenue. The objective of IAS 18 The objective of IAS 18 is to prescribe the accounting treatment of revenue arising from certain types of transactions and events, namely the sale of goods, the...

The International Accounting Standards Committee issued the the International Accounting Standard 21, The Effects of Changes in Foreign Exchange Rates. An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In...

The International Accounting Standards Committee issued the the International Accounting Standard 20, Accounting for Government Grants and Disclosure of Government Assistance. The objective of IAS 20 is to prescribe the accounting treatment for, and disclosure of, government grants and other...