Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees.

The objective of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognise:
 (a) a liability when an employee has provided service in exchange for employee benefits […]

This Standard shall be applied in accounting for, and in the disclosure of, government grants and in the disclosure of other forms of government assistance.

Government grants are assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating […]

An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In addition, an entity may present its financial statements in a foreign currency. The objective of this Standard is to prescribe how to include foreign currency transactions and foreign operations in the […]

Objective:

The objective of this Standard is to prescribe the accounting treatment for borrowing costs.

Borrowing costs are interest and other costs incurred by an entity in connection with the borrowing of funds.

Benchmark treatment- Borrowing costs shall be recognised as an expense in the period in which they are incurred.

Allowed alternative treatment-Borrowing costs shall […]

Objective:

The objective of this Standard is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances with such parties.

A party is related to […]