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Companies House is introducing mandatory identity verification requirements for Directors and People…

On 27 March 2024, the Financial Reporting Council issued amendments to FRS 100 – 105 (known as GAAP, or…

The latest updates from the Spring Budget 2024 and its impact on individuals, employers and businesses.

Economics was afforded a place in the sun this past week as Ireland’s economic superstar, David McWilliams, delivered a keynote address at the IntertradeIreland Conference. I wasn’t able to be there as I had headed south to present the latest findings from the Dublin Economic Monitor that we in Grant Thornton produce on behalf of the four Dublin councils.

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Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the some relevant features that could impact your business. This article sets out the definition and underlying principles of fair value, gives a brief overview of permissible valuation techniques and presents IFRS 3’s specific guidance on fair value measurement.

Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business. This article explains the recognition principles set out in IFRS 3.

Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business. IFRS 3 has specific guidance on how some items are recognised and measured. This article summarises this specific guidance and provides examples to illustrate its application.

It can seem at times that the news agenda continually switches from one crisis to the next, turning much of what we hear into nothing more than white noise. But the current cost-of-living crisis simply cannot be ignored and is having a deep impact across the economy.

Navigating the changes to International Financial Reporting Standards. A briefing for preparers of IFRS financial statements.

Acquisitions of businesses can take many forms and can have a fundamental impact on the acquirer’s operations, resources and strategies. These acquisitions are sometimes referred to as mergers or business combinations, and the accounting and disclosure requirements are set out in IFRS 3 ‘Business Combinations’.

Acquisitions of businesses can take many forms and can have a fundamental impact of the acquirer’s operations, resources and strategies. These acquisitions are described in many ways depending on the underlying facts and circumstances: mergers, takeovers and business combinations are all terms that are used, and the accounting and disclosure requirements for all of them are set out in IFRS 3 ‘Business Combinations’.

Private operating companies seeking a ‘fast track’ stock exchange listing sometimes arrange to be acquired by a smaller listed company (often described as a ‘shell’ company). This usually involves the listed shell company issuing its shares to the private company shareholders in exchange for their shares in the private operating company. A transaction in which a company with substantial operations (‘operating company’) arranges to be acquired by a listed shell company should be analysed to determine how it should be accounted for under IFRS.

We’re an organisation of independent assurance, tax and advisory firms, made up of 47,000 people in 130 countries. And we’re here to help dynamic organisations unlock their potential for growth.

IAS 36 ‘Impairment of Assets’ sets out the requirements entities should follow prior to concluding if an asset should be written down in the financial statements (ie impaired). However, due to the complex nature of the standard, the requirements of IAS 36 can be challenging to apply in practice.

IAS 36 ‘Impairment of Assets’ prescribes the accounting for impairment reviews. There are some detailed requirements of IAS 36 that are complex and challenging for the preparers of financial statements to apply.