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The #1 website for global accounting news
  • IASB (International Accounting Standards Board) (blue) Image
  • IASB issues work plan update

    30 Jun 2015

    Following its June meeting, the IASB has updated its work plan. The revised plan announces the expected issuance of an exposure draft (ED) on clarifications of classification and measurement of share-based payment transactions (amendments to IFRS 2) in the fourth quarter of 2015, moves the target ED date for clarifications arising from the post-implementation review of IFRS 8 up one quarter, extends redeliberations for insurance contracts project to the third quarter of 2015, and shifts all activity in the disclosure initiative project to the third quarter of 2015.

  • ESMA (European Securities and Markets Authority) (dark gray) Image
  • ESMA publishes final guidelines on alternative performance measures

    30 Jun 2015

    The European Securities and Markets Authority (ESMA) has published its final Guidelines on Alternative Performance Measures (APMs) for listed issuers. The guidelines apply to issuers with securities traded on regulated markets, and persons responsible for drawing up a prospectus. They are effective from 3 July 2016.

  • Japan Image
  • ASBJ publishes 'Japan’s Modified International Standards'

    30 Jun 2015

    The Accounting Standards Board of Japan (ASBJ) has 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.

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  • Speech at Paris IFRS conference on the European view of IFRSs

    30 Jun 2015

    At the IFRS Foundation's IFRS conference currently held in Paris, the Chairman of the French standard-setter Autorité des Normes Comptables (ANC) Patrick de Cambourg gave the keynote address and spoke about the crucial importance of international accounting standards and the objective of establishing 'a confident and level playing field dialogue with the IASB'.

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  • Hans Hoogervorst speaks about historical cost and fair value

    29 Jun 2015

    At the IFRS Foundation's IFRS conference currently held in Paris, IASB Chairman Hans Hoogervorst spoke about the question of how assets and liabilities should be measured, a topic he called "one of the most difficult topics in accounting".

  • ASBJ (Accounting Standards Board of Japan) Image
    EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • Second ASBJ and EFRAG bilateral meeting

    29 Jun 2015

    Representatives of the European Financial Reporting Advisory Group (EFRAG) and the Accounting Standards Board of Japan (ASBJ) held a bilateral meeting in Brussels on 22 and 23 June 2015. The EFRAG and ASBJ provided updates on their respective projects and exchanged views on the development of accounting standards.

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  • Agenda for the July 2015 ASAF meeting

    25 Jun 2015

    The International Accounting Standards Board (IASB) has released the tentative agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB's offices in London on 16-17 July 2015. The meeting will discuss a number of the IASB's active projects, including insurance contracts, discount rates, conceptual framework, provisions and contingent liabilities, disclosure initiative, dynamic risk management, pollutant pricing mechanisms, rate-regulated activities, and revenue.

  • ASAF (Accounting Standards Advisory Forum) (mid blue) Image
  • ASAF membership update

    24 Jun 2015

    The IFRS Foundation Trustees have announced the new composition of the Accounting Standards Advisory Forum (ASAF) for the next three years. The ASAF is chaired by the IASB and includes 12 other members from various locations around the world.

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  • Biuletyn MSSF 2/2015

    published 30 Jun 2015

    Polish language newsletter on financial reporting standards. This edition discusses (1) ED/2014/5 'Classification and measurement of share-based payment transactions' and (2) all meetings of the Joint Transition Resource Group for Revenue Recognition held so far.

  • EFRAG endorsement status report 29 June 2015 Image
  • EFRAG endorsement status report 29 June 2015

    published 30 Jun 2015

    This endorsement status report update reflects several expected delays in the endorsement of IFRS for the use in the European Union. Most notable is a delay in the endorsement of IFRS 15, which is now expected in the first quarter of 2016.

  • Heads Up — IASB proposes revisions to its conceptual framework Image
  • Heads Up — IASB proposes revisions to its conceptual framework

    published 26 Jun 2015

    This Heads Up discusses the IASB’s exposure draft "Conceptual Framework for Financial Reporting." The purpose of the proposal is to clarify, update, and fill in gaps in the IASB’s existing framework, which addresses a range of fundamental accounting topics, such as determining what is an asset or liability.

  • EITF Snapshot — June 2015 Image
  • EITF Snapshot — June 2015

    published 19 Jun 2015

    This issue summarises the topics discussed and conclusions reached at the 18 June 2015 meeting of the Emerging Issues Task Force.

  • IFRS in your pocket 2015 Image
  • IFRS in your pocket 2015

    published 18 Jun 2015

    The 2015 edition of our popular guide to IFRSs includes background information on the structure and workings of the IASB, analysis of the use of IFRSs around the world, summaries of all current Standards and Interpretations, and up-to-date details of IASB and IFRIC agenda projects.

  • Heads Up — FASB issues proposed ASU to amend equity method accounting Image
  • Heads Up — FASB issues proposed ASU to amend equity method accounting

    published 16 Jun 2015

    This Heads Up summarizes the FASB’s recently issued proposed Accounting Standards Update on equity method accounting, which is part of the Board’s simplification initiative (i.e., its effort to reduce the cost and complexity of current U.S. GAAP while maintaining or enhancing the usefulness of the related financial statement information). The proposal would amend the accounting for equity method investments, eliminating the requirements for an investor to (1) account for basis differences related to its equity method investees and (2) retroactively account for an investment that becomes newly qualified for use of the equity method because of an increased ownership interest as if the equity method had been applied during all previous periods in which the investment was held.

  • Heads Up — FASB issues proposed ASU to simplify the accounting for share-based payments Image
  • Heads Up — FASB issues proposed ASU to simplify the accounting for share-based payments

    published 12 Jun 2015

    This Heads Up summarizes the FASB’s recently issued proposed Accounting Standards Update (ASU), "Improvements to Employee Share-Based Payment Accounting," which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, minimum statutory withholding requirements, classification in the statement of cash flows, and classification of awards with repurchase features. In addition, the proposed ASU contains two practical expedients for nonpublic entities under which such entities can use the simplified method to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.

  • IFRS on point — May 2015 Image
  • IFRS on point — May 2015

    published 10 Jun 2015

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

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