Strong Professional Services

Strong Professional Services We provide expert financial services at a budget cost.

15/07/2020

IFRS 6 specifies some aspects of the financial reporting for costs incurred for exploration for and evaluation of mineral resources (for example, minerals, oil, natural gas and similar non-regenerative resources), as well as the costs of determination of the technical feasibility and commercial viability of extracting the mineral resources. It permits an entity to develop an accounting policy for exploration and evaluation assets without specifically considering the requirements of paragraphs 11–12 of IAS 8. Thus, an entity adopting IFRS 6 may continue to use the accounting policies applied immediately before adopting IFRS 6. It requires entities recognizing exploration and evaluation assets to perform an impairment test on those assets when facts and circumstances suggest that the carrying amount of the assets may exceed their recoverable amount. It varies the recognition of impairment from that in IAS 36 but measures the impairment in accordance with that Standard once the impairment is identified.

26/06/2020

IFRS 5 requires a non-current asset or disposal group to be classified as held for sale if its carrying amount will be recovered principally through a sale transaction instead of through continuing use; assets held for sale to be measured at the lower of the carrying amount and fair value less costs to sell; depreciation of an asset to cease when it is held for sale; separate presentation in the statement of financial position of an asset classified as held for sale and of the assets and liabilities included within a disposal group classified as held for sale; and separate presentation in the statement of comprehensive income of the results of discontinued operations.

22/06/2020

IFRS 3 establishes principles and requirements for how an acquirer in a business combination:Recognizes and measures in its financial statements the assets and liabilities acquired, and any interest in the acquiree held by other parties; Recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. The core principles in IFRS 3 are that an acquirer measures the cost of the acquisition at the fair value of the consideration paid; allocates that cost to the acquired identifiable assets and liabilities on the basis of their fair values; allocates the rest of the cost to goodwill; and recognizes any excess of acquired assets and liabilities over the consideration paid (a ‘bargain purchase’) in profit or loss immediately. The acquirer discloses information that enables users to evaluate the nature and financial effects of the acquisition

18/06/2020

IFRS 2 specifies the financial reporting by an entity when it undertakes a share-based payment transaction, including issue of share options. It requires an entity to recognize share-based payment transactions in its financial statements, including transactions with employees or other parties to be settled in cash, other assets or equity instruments of the entity. It requires an entity to reflect in its reported profit or loss and financial position the effects of share-based payment transactions, including expenses associated with transactions in which share options are granted to employees.

03/06/2020

IFRS 1 requires an entity that is adopting IFRS Standards for the first time to prepare a complete set of financial statements covering its first IFRS reporting period and the preceding year. The entity uses the same accounting policies throughout all periods presented in its first IFRS financial statements. Those accounting policies must comply with each Standard effective at the end of its first IFRS reporting period. IFRS 1 provides limited exemptions from the requirement to restate prior periods in specified areas in which the cost of complying with them would be likely to exceed the benefits to users of financial statements.

29/05/2020

‘A cloud is a colony of millions of computers that are braided together seamlessly to act as a single large computer.’Cloud solutions offer flexibility because organizations don’t have to invest in IT architecture or costly updates and maintenance.

Meet our IFRSs.
28/05/2020

Meet our IFRSs.

22/05/2020

A share-based payment is a transaction in which the entity receives goods or services either as consideration for its equity instruments or by incurring liabilities for amounts based on the price of the entity's shares or other equity instruments of the entity.

20/05/2020

Scenario planning is a management tool that is designed to allow organizations to evaluate the efficacy of strategies, tactics, and plans under a range of possible future environments. It is the perfect tool for today’s increasingly uncertain and volatile world.

19/05/2020

Businesses are looking to manage costs and customer debt, but the COVID-19 crisis has also been an opportunity to rethink fundamentally how they operate and to examine how to transform to survive and thrive after the heat of the crisis has dissipated. Digital resilience, Business model pivots and Digital transformation are three ways we can steer through the crisis.

18/05/2020

Management Accountants must be able to innovate & articulate workable solutions that positively impact financial strategy, risk philosophy & corporate policy.(CFO)

15/05/2020

Finance is not just about reporting, its also about projecting.

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