Transport plays an important role in the economic development of the country by creating employment opportunities and sustaining economic activities. The quest for service quality has been an essential strategic component for service firms like buses attempting to succeed and survive in...

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 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...

The International Accounting Standards Committee issued the the International Accounting Standard 23, Borrowing Costs. The objective of IAS 23 is to prescribe the accounting treatment for borrowing costs. This standard requires the capitalisation of all borrowing costs that are directly...

The International Accounting Standards Board issued the International Financial Reporting Standard 7, Financial Instruments: Disclosures. The objective of IFRS 7 is to provide more transparency to financial statement users on an entity’s exposure to risks and how those risks are managed. An...

The International Accounting Standards Committee issued the the International Accounting Standard 24, Related Party Disclosures. IAS 24 requires entities to disclose in their financial statements information about transactions with related parties. In broad terms, two parties are related to each...

The International Accounting Standards Committee issued the the International Accounting Standard 27, Consolidated and Separate Financial Statements. IAS 27 provides guidance on the preparation and presentation of consolidated financial statements for a group of entities under the control of a...