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  • US SEC commissioner discusses global accounting standards

    27 Mar 2015

    Kara Stein, a Commissioner of the US Securities and Exchange Commission (SEC), gave her opinion on the future of IFRSs in the United States during a speech at the Brooklyn Law School in New York City. Ms Stein discussed international cooperation in the wake of the global financial crisis and called for worldwide collaboration on data aggregation and disclosure. She then discussed IFRS adoption in the United States, noting:

  • March 2015 IASB meeting notes posted — part 3 (concluded)

    26 Mar 2015

    The IASB met at its offices in London on 17–19 March 2015, some of it a joint meeting with the FASB. We have posted the Deloitte observer notes from the last sessions on revenue recognition, fair value measurement and dynamic risk management.

  • IASB issues work plan update

    26 Mar 2015

    Following its March meeting, the IASB has published a new work plan. We summarise the changes for you, which also included changes the IASB made to the 24 February work plan after it was published. Most notable changes are delays in the Conceptual Framework project and in the Principles of disclosure project as well as a new project on Clarifications to IFRS 15.

  • We comment on the proposed amendments to IFRS 2

    25 Mar 2015

    We have published our comment letter on the International Accounting Standards Board's (IASB) Exposure Draft ED/2014/5 'Classification and measurement of share-based payment transactions'.

  • Agenda for the Joint Transition Resource Group for Revenue Recognition meeting

    23 Mar 2015

    The agenda has been released for the upcoming meeting of the Joint Transition Resource Group for Revenue Recognition (TRG), which is being jointly held at the offices of the IASB and FASB on 30 March 2015. The TRG will discuss a number of topics related to the boards’ new revenue standard, “Revenue From Contracts With Customers” (issued as IFRS 15 by the IASB and ASU 2014-09 by the FASB).

  • March 2015 IASB meeting notes posted — Part 2

    23 Mar 2015

    The IASB met at its offices in London on 17–19 March 2015, some of it a joint meeting with the FASB. We have posted the Deloitte observer notes from the sessions on insurance contracts and the conceptual framework.

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  • IFRS Project Insights — Insurance contracts

    published 23 Mar 2015

    This edition of IFRS Project Insights provides a summary of the IASB's project on insurance contracts and discusses recent tentative decisions reached by the Board. This publication has been updated as of 23 January 2015.

  • EITF Snapshot — March 2015

    published 20 Mar 2015

    This issue summarises the topics discussed and conclusions reached at the 19 March 2015 meeting of the Emerging Issues Task Force.

  • Heads Up — FASB continues to clarify the new revenue standard

    published 20 Mar 2015

    This Heads Up summarizes the tentative decisions made by the FASB and IASB at their joint meeting on March 18, 2015, to discuss implementation of the new revenue standard. The decisions were about practical expedients upon transition, sales tax presentation, noncash consideration, and collectibility.

  • EFRAG endorsement status report 18 March 2015

    published 18 Mar 2015

    This endorsement status report update reflects the issuance of the final EFRAG endorsement advice letter on IFRS 15 'Revenue from Contracts with Customers'. Final endorsement of IFRS 15 is currently expected in the third quarter of 2015.

  • Heads Up — FASB finalizing credit impairment guidance

    published 13 Mar 2015

    This Heads Up provides a comprehensive summary of the FASB’s current expected credit loss (CECL) model and other proposed changes to existing credit impairment guidance, which are reflected in the Board’s proposed Accounting Standards Update, "Financial Instruments — Credit Losses," and subsequent tentative decisions to date. Under the CECL model, an entity would recognize as an allowance its estimate of the contractual cash flows not expected to be collected.

  • IFRS on point — February 2015

    published 13 Mar 2015

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

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