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  • ESMA (European Securities and Markets Authority) (dark gray) Image
    European Union Image
  • 19th ESMA enforcement decisions report released

    28 Jul 2016

    The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IAS 8, IAS 12, IAS 18, IAS 19, IAS 21, IAS 38, IAS 39, IAS 41, IFRS 2, IFRS 3, IFRS 8, IFRS 11, IFRS 13, IFRIC 14, IFRIC 17, and IFRIC 21.

  • ASBJ (Accounting Standards Board of Japan) Image
  • ASBJ publishes amendments to 'Japan’s Modified International Standards'

    25 Jul 2016

    In June 2015, the Accounting Standards Board of Japan (ASBJ) issued "Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications". JMIS are standards and interpretations issued by the International Accounting Standards Board (IASB) with certain 'deletions or modifications' where considered necessary. The first set of JMIS comprised standards issued by the IASB as at 31 December 2012. Since then, the ASBJ examined the Standards issued by the IASB during 2013 and today has issued an updated version of JMIS.

  • Deloitte document (mid gray) Image
  • We comment on three IFRIC tentative agenda decisions

    22 Jul 2016

    We have published our comment letters to the IFRS Interpretations Committee on tentative agenda decisions not to take onto the Committee’s agenda (1) service concession arrangements for which the infrastructure is leased (IFRIC 12), (2) fees and costs included in the '10 per cent' test for the purposes of derecognition (IAS 39), and (3) written puts over non-controlling interests to be settled by a variable number of the parent’s shares (IAS 32).

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • Video recordings from the EFRAG@15 event

    22 Jul 2016

    On 6 July 2016, the European Financial Reporting Advisory Group (EFRAG) held a celebration event and seminar to mark its 15th anniversary and welcome its new leadership.

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  • Lipiec 2016 Image
  • Biuletyn MSSF — Lipiec 2016

    published 26 Jul 2016

    Polish language newsletter on financial reporting standards. This edition discusses (1) 'Clarifications to IFRS 15 'Revenue from Contracts with Customers'', (2) 'Disclosure Initiative (Amendments to IAS 7)', and (3) 'Recognition of Deferred Tax Assets for Unrealised Losses'.

  • Alternative performance measures: A practical guide Image
  • Alternative performance measures: A practical guide

    published 22 Jul 2016

    This newsletter explores the key messages from regulators, standard setters and investors about the use of APMs, with a particular focus on assisting compliance with ESMA’s Guidelines on Alternative Performance Measures. It also sets out what is considered to be best practice when presenting APMs and provides real-life examples of how entities are presenting APMs.

  • Heads Up — Controls and non-GAAP measures Image
  • Heads Up — Controls and non-GAAP measures

    published 19 Jul 2016

    As part of its current focus on non-GAAP measures, the SEC has questioned whether companies and audit committees have implemented appropriate controls regarding the disclosure of such measures. This Heads Up discusses the types of controls that could be established and provides high-level examples of control issues and related responses for consideration in connection with non-GAAP measures.

  • Heads Up — SEC proposes to eliminate outdated and duplicative disclosure requirements Image
  • Heads Up — SEC proposes to eliminate outdated and duplicative disclosure requirements

    published 18 Jul 2016

    This Heads Up discusses the SEC’s July 13, 2016, proposed rule, Disclosure Update and Simplification, which would amend certain of the Commission’s disclosure requirements that may be redundant, duplicative, or outdated, or may overlap with other SEC, U.S. GAAP, or IFRS disclosure requirements. The proposal also seeks comment on whether certain of the SEC’s disclosure requirements that overlap with U.S. GAAP requirements should be retained, modified, eliminated, or referred to the FASB for potential incorporation into U.S. GAAP.

  • Thinking Allowed — The future of corporate reporting Image
  • Thinking Allowed — The future of corporate reporting

    published 13 Jul 2016

    Some commentators and organisations are asking whether evolution in reporting requirements is enough, or whether it is time for a more fundamental rethink about corporate reporting, particularly our reliance on an annual report with annual financial statements. In this publication we set out our view of the future of corporate reporting.

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