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  • European Union Image
  • ECON report criticises current accounting standard-setting

    03 May 2016

    The Committee on Economic and Monetary Affairs (ECON) of the European Parliament has initiated a report that is rather critical of the activities of the IFRS Foundation, EFRAG and the PIOB. The report will not be legally binding but will possibly be voted on in a plenary session of the European Parliament in May and if agreed will be used as guidance and reference in future EU law-making processes.

  • FASB meeting (lt blue) Image
  • FASB discusses credit impairment at April 27 meeting

    27 Apr 2016

    At its 27 April 2016, meeting, the FASB discussed its credit impairment project and the progress of the transition resource group (TRG) on credit losses. The Board authorized the staff to draft a final standard and also made tentative decisions related to (1) credit quality disclosures, (2) the effective date of the final standard and whether the guidance can be early adopted, and (3) the costs and benefits of the final standard.

  • IASB (International Accounting Standards Board) (blue) Image
  • IASB's investor programme gains three new members

    27 Apr 2016

    In December 2014, the International Accounting Standards Board (IASB) launched a new 'Investors in Financial Reporting' programme designed to foster greater investor participation in the development of International Financial Reporting Standards (IFRS). The number of investment organisations participating in the programme has now risen to 18.

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  • Biuletyn MSSF — Maj 2016

    published 04 May 2016

    Polish language newsletter on financial reporting standards. This edition discusses (1) the impact of IFRS 15 'Revenue from Contracts with Customers' on the industrial products industry, (2) the impact of IFRS 16 'Leases' on the telecommunications industry, and (3) a new tool which estimates the impact of IFRS 16 on key financial data.

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  • Accounting Roundup — April 2016

    published 03 May 2016

    This issue features articles on (1) the FASB’s release of an ASU amending certain aspects of the guidance in ASU 2014-09 (the Board’s new revenue standard) on (a) identifying performance obligations and (b) licensing; (2) the IASB’s issuance of a final standard clarifying the guidance in IFRS 15 (the IASB’s counterpart revenue standard) on (a) identifying performance obligations, (b) principal-versus-agent considerations, and (c) licensing; (3) the inaugural meeting of the FASB’s credit losses transition resource group and the Board’s decision to issue a final standard on credit impairment; (4) the increased use and scrutiny of non-GAAP measures, including recent SEC comments on this topic; and (5) the SEC’s release of a request for comment that seeks feedback on modernizing the business and financial disclosure requirements of Regulation S-K.

  • Biuletyn MSSF 2/2016  Image
  • Biuletyn MSSF 2/2016

    published 27 Apr 2016

    Polish language newsletter on financial reporting standards. This edition discusses (1) the IFRS 16, Leases standard; (2) Impact of IFRS 16; and (3) solutions for the implementation of IFRS.

  • Heads Up — FASB simplifies the accounting for share-based payments  Image
  • Heads Up — FASB simplifies the accounting for share-based payments

    published 21 Apr 2016

    This Heads Up supersedes our March 31, 2016, Heads Up on the FASB’s simplification of the accounting for share-based payments. It contains revisions that reflect subsequent discussions with the FASB and SEC staffs related to entities’ changes to the net-settlement terms of their share-based payment arrangements from the minimum statutory tax rate to a higher rate up to the maximum statutory tax rate. The revised Heads Up notes that such changes would not be accounted for as a modification.

  • EFRAG endorsement status report 20 April 2016 Image
  • EFRAG endorsement status report 20 April 2016

    published 20 Apr 2016

    This endorsement status report update reflects that on 18 April 2016 the Accounting Regulatory Committee (ARC) voted in favour of endorsing the amendment 'Investment Entities – Applying the Consolidation Exception'. Endorsement is currently expected in the third quarter of 2016.

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  • EFRAG endorsement status report 18 April 2016

    published 19 Apr 2016

    This endorsement status report update reflects that on 11 April 2016 the Accounting Regulatory Committee (ARC) voted in favour of endorsing IFRS 15 'Revenue from Contracts with Customers' including the amendments to IFRS 15 'Effective date of IFRS 15'. Endorsement is currently expected in the second half of 2016.

  • Heads Up — SEC concept release seeks comments on Regulation S-K Image
  • Heads Up — SEC concept release seeks comments on Regulation S-K

    published 18 Apr 2016

    This Heads Up discusses the SEC’s recently published Concept Release No. 33-10064, "Business and Financial Disclosure Required by Regulation S-K," which seeks feedback from constituents on modernizing certain business and financial disclosure requirements of Regulation S-K.

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