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Comprehensive Guide to IFRS 15: Revenue from Contracts with Customers

January 21, 2025by Dr Dawkins Brown

Revenue recognition is a cornerstone of financial reporting, directly impacting an entity’s financial health and stakeholder trust. IFRS 15, Revenue from Contracts with Customers, revolutionizes the approach to revenue recognition by introducing a uniform framework applicable across all industries. This article explores the five-step model at the heart of IFRS 15, its industry implications, challenges,...

Accountants and accounting firm accountants and auditors Financial Analysis International auditing standards (ias)Management Consultants

Measurement of ECL: Probability of Default vs Loss Rate Approach

January 21, 2025by Dr Dawkins Brown

The measurement of Expected Credit Losses (ECL) is a cornerstone of modern credit risk management under IFRS 9. ECL quantifies the potential losses a financial institution could face due to the default of a counterparty. Two widely used methodologies for calculating ECL are the Probability of Default (PD) approach and the Loss Rate (LR) approach....

Accountants and accounting firm accounting firm International auditing standards (ias)The International Accounting Standards Board (IASB)The International Financial Reporting Standards

How to Calculate Bad Debt Provision Under IFRS 9: A Comprehensive Guide for Receivables vs. Loans

January 21, 2025by Dr Dawkins Brown

IFRS 9 introduced the Expected Credit Loss (ECL) model to replace the incurred loss model for bad debt provisioning. The ECL model is a forward-looking approach that incorporates historical, current, and future economic data to estimate credit losses. While the principles of the ECL model apply universally, there are distinct approaches when calculating bad debt...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software AML Audits:Audit and Assurance Services Audit firm

Dawgen Global: Your Trusted Partner for Auditing and Accounting Services in Jamaica

January 17, 2025by Dr Dawkins Brown

At Dawgen Global, we are dedicated to providing top-notch professional services that empower businesses to achieve financial clarity, compliance, and operational excellence. With a presence in Jamaica and across the Caribbean, Dawgen Global is a globally integrated multidisciplinary professional service firm offering a wide array of services, including audit, accounting, tax, IT, risk management, and...

Accountants and accounting firm Tax Firm Tax Planning Services Taxation Services The International Accounting Standards Board (IASB)The International Financial Reporting Standards

Understanding Deferred Tax: Bridging Temporary Differences in Financial Reporting

January 15, 2025by Dr Dawkins Brown

Deferred tax is often viewed as a complex and esoteric concept, misunderstood by many professionals and businesses alike. Contrary to popular belief, deferred tax is not an actual tax payment but an accrual for tax. It functions similarly to other accruals or provisions by aligning the tax effect of transactions with the period in which...

Accountants and accounting firm Tax Firm Tax Planning Services Taxation Services The International Accounting Standards Board (IASB)The International Financial Reporting Standards

Demystifying Deferred Tax: A Thought Leadership Article by Dawgen Global

January 14, 2025by Dr Dawkins Brown

Deferred tax is often viewed as a complex concept, misunderstood by many professionals and businesses alike. Contrary to popular belief, deferred tax is not an actual tax payment but an accrual for tax. It functions similarly to other accruals or provisions by aligning the tax effect of transactions with the period in which they occur....

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software

Are Audit Firms and Accounting Firms the Same Thing?

January 11, 2025by Dr Dawkins Brown

The terms “audit firms” and “accounting firms” are often used interchangeably, creating confusion for business owners, entrepreneurs, and even seasoned professionals. While there are areas of overlap between the two, the core functions, responsibilities, and regulatory frameworks of audit and accounting firms differ significantly. Understanding these distinctions is crucial for businesses seeking the right professional...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software Advisory Services

Streamlining Year-End Accounting: A Comprehensive Checklist for Financial Accuracy and Compliance

January 11, 2025by Dr Dawkins Brown

As the fiscal year draws to a close, accounting professionals face the formidable task of finalizing financial records, ensuring compliance, and preparing for the upcoming year. A structured year-end accounting checklist is essential to navigate this period efficiently and accurately, mitigating risks and setting the stage for a seamless transition into the new financial year....

Accountants and accounting firm accountants and auditors accounting firm Audit and Assurance Services Audit firm The International Accounting Standards Board (IASB)The International Financial Reporting Standards

The Evolving Role of NFRA in Regulating Auditing Standards: Implications for the ICAI and Quality Management

January 2, 2025by Dr Dawkins Brown

The recent clarification by the Solicitor General of India (SGI), Tushar Mehta, has reaffirmed the boundaries of authority between the National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI). This pivotal decision highlights a defining moment in the governance of auditing and quality management standards in India. The implications of...

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The Digital Transformation of SMEs: Impact and Benefits

December 28, 2024by Dr Dawkins Brown

Digital transformation is no longer a buzzword; it is a necessity for businesses seeking to thrive in today’s competitive landscape. For small and medium-sized enterprises (SMEs), digital transformation involves the integration of digital technologies into all facets of their operations. This evolution is not merely a technological upgrade but a fundamental shift in how businesses...

Newer Posts

Older Posts

Comprehensive Guide to IFRS 15: Revenue from Contracts with Customers

Measurement of ECL: Probability of Default vs Loss Rate Approach

How to Calculate Bad Debt Provision Under IFRS 9: A Comprehensive Guide for Receivables vs. Loans

Dawgen Global: Your Trusted Partner for Auditing and Accounting Services in Jamaica

Understanding Deferred Tax: Bridging Temporary Differences in Financial Reporting

Demystifying Deferred Tax: A Thought Leadership Article by Dawgen Global

Are Audit Firms and Accounting Firms the Same Thing?

Streamlining Year-End Accounting: A Comprehensive Checklist for Financial Accuracy and Compliance

The Evolving Role of NFRA in Regulating Auditing Standards: Implications for the ICAI and Quality Management

The Digital Transformation of SMEs: Impact and Benefits

March 12, 2025Optimizing Accounts Payable Efficiency: Key Metrics and Best Practices

March 10, 2025Vacancy: Corporate Attorney

March 8, 2025Managing Risk: A Comprehensive Guide for Managers

March 8, 2025Comprehensive Cybersecurity Services: Safeguarding Your Business with Cutting-Edge Threat Intelligence

March 5, 2025Watching the Ratios: A Comprehensive Guide for Managers

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