Vital Changes Which You Need To Know About 2019 IFRS Update

In case you have deferred implementation of IFRS 9 till now, then it’s time you do it now. The standard IAS 139 is no longer applicable. Your financial statements for the year which ended on 31 December 2018 need to be made under IFRS 9. IFRS 9 is highly complicated and even if you don’t have a finance background, you need to become familiar with the new method for bad debt provisioning related to trade receivables.