IFRS 9 impairment

IFRS 9, introduced by the IASB, replaced the "incurred loss" model of IAS 39 with a forward-looking Expected Credit Loss (ECL) approach, significantly reshaping how credit losses are recognized. This shift, driven by the 2008 financial crisis, ensures earlier and more transparent recognition of financial risks. IFRS 9 impairment applies to financial assets, requiring businesses to proactively assess and provide for potential credit losses. While it demands more data, judgment, and disclosure, it enhances the quality of financial reporting and supports better risk management in today’s dynamic economic landscape.

Outsourcing HR & Payroll: The Smart Move for Modern Companies

With rising costs, tight margins, and evolving workforce needs, many companies—especially small businesses—are turning to HR and payroll outsourcing. This growing trend involves hiring third-party experts to handle tasks like salary processing, tax filing, leave tracking, and compliance. Whether for basic payroll or full-service HR management, the goal remains clear: reduce hassle, save time, and stay compliant.
SKMC Global offers secure, compliant, and cost-effective HR and payroll outsourcing, enabling businesses to focus on growth.

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