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The #1 website for global accounting news
  • IASB member discusses financial instruments

    24 Apr 2015

    In a report issued by the ‘Banking magazine: Association of Banks in Israel’, IASB member Sue Lloyd talks about IFRS 9, specifically looking at the new loan loss accounting model.

  • ITG discusses implementation of impairment requirements in IFRS 9

    24 Apr 2015

    On 22 April 2015, the IFRS Transition Resource Group for Impairment of Financial Instruments (‘ITG’) held its first meeting. The ITG is a discussion forum established by the International Accounting Standards Board (IASB) to provide support for stakeholders on implementation issues arising from the new impairment requirements following the issue of IFRS 9 'Financial Instruments' (2014).

  • IFRS Foundation issues Formula Linkbase 2015

    20 Apr 2015

    The IFRS Foundation has issued the 2015 IFRS Taxonomy Formula Linkbase. The Formula Linkbase is updated from the 2014 version; it is designed to help improve the data quality of IFRS Taxonomy filings and to provide additional guidance for both technical and financial reporting audiences so that they can better understand the IFRS concepts and their meanings.

  • IASB to discuss effective date of IFRS 15

    20 Apr 2015

    In preparation for the IASB's meeting next week, an agenda paper has been released today discussing the effective date of IFRS 15 and asking the IASB whether it wishes to defer the effective date in the light of (i) issues emerging from discussions of the Revenue Transition Resource Group (TRG) and (ii) the FASB’s tentative decision regarding the effective date.

  • Agenda for the April 2015 IASB meeting

    17 Apr 2015

    The IASB will meet at its offices in London on 27-29 April 2015. Topics discussed at the meeting will include fair value measurement, revenue recognition, IFRS Interpretation issues, the disclosure initiative, and inflation.

  • Hans Hoogervorst speaks about the reasons behind the IASB's work

    16 Apr 2015

    At the IFRS Foundation trustees’ stakeholder event in Toronto, Canada, IASB Chairman Hans Hoogervorst presented a mission statement for the IASB and the IFRS Foundation explaining not only ‘what’ but also ‘why’ the organisation does what it does.

  • Recording of the ECON hearing of the new EFRAG President

    16 Apr 2015

    The Committee on Economic and Monetary Affairs (ECON) of the European Parliament has made available a recording of the hearing of Dr Wolf Klinz, who was recently nominated as President of the Board of the European Financial Reporting Advisory Group (EFRAG) by the European Commission.

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  • Deloitte digest — March 2015

    published 22 Apr 2015

    This publication from Deloitte (Canada) summarizes current financial reporting rules and standards; it also provides an overview of recent regulatory and professional developments.

  • Heads Up — FASB issues ASU on customers' accounting for cloud computing costs

    published 17 Apr 2015

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2015-05, "Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." Released as part of the Board’s simplification initiative, the ASU amends ASC 350-40 to provide customers with guidance on determining whether a cloud computing arrangement contains a software license that should be accounted for as internal-use software.

  • Heads Up — FASB permits use of practical expedient for retirement benefit plan measurement

    published 17 Apr 2015

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2015-04, "Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets." The ASU gives an entity with a fiscal year-end that does not coincide with a calendar month-end (e.g., an entity that has a 52- or 53-week fiscal year) the ability, as a practical expedient, to measure its defined benefit retirement obligations and related plan assets as of the month-end that is closest to its fiscal year-end.

  • IFRS on point — March 2015

    published 16 Apr 2015

    IFRS on Point, published at the end of each month, highlights critical IFRS-related financial reporting developments.

  • Deloitte e-learning — IFRS 15

    published 15 Apr 2015

    This Deloitte e-learning module provides training in the background, scope and principles under IFRS 15 'Revenue from Contracts with Customers', and the application of this Standard. Topics covered include the principles for the recognition of revenue to the sale of goods, services, licenses, royalties, and any variable consideration or modifications to contracts; and guidance is provided on how these principles should be applied by using the new five step revenue recognition model.

  • Deloitte digest — February 2015

    published 08 Apr 2015

    This publication from Deloitte (Canada) summarizes current financial reporting rules and standards; it also provides an overview of recent regulatory and professional developments.

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