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2010

Deloitte IFRS newsletters in Spanish

09 Jan 2010

Deloitte (Colombia) has published the Spanish translation of the three IAS Plus Update publications.

Deloitte (Colombia) has published the Spanish translation of the following IFRS publications:

Nuestra página de recursos en español: Clic.

 

Deloitte IFRS newsletter in Spanish

08 Jan 2010

Deloitte (Colombia) has published the Spanish translation of the following IFRS publication: Boletín de Actualización IAS Plus – IFRS 9 Instrumentos financieros; Spanish version of: IAS Plus Update October 2009 – IFRS 9 Financial Instruments

You will find our resources in Spanish Here.

 

Agenda for January 2010 IASB meeting

08 Jan 2010

The IASB will hold its January 2010 regular monthly meeting at its offices in London on Monday to Thursday 18-21 January 2010. The sessions on Monday, Tuesday, and Wednesday morning are joint with the FASB.

The Board will not meet on Friday. The meeting will be open to public observation and will be webcast. Presented below is the agenda for the meeting.

IASB Board Meeting Agenda18-21 January 2010, London

Monday 18 January 2010 – Joint meeting with FASB (13:00-19:00pm London time)

Tuesday 19 January 2010 – Joint meeting with FASB (08:00-18:45pm London time)

Wednesday 20 January 2010 – Joint meeting with FASB until 12:45pm (08:00-16:30pm London time)

Joint Meeting:

Thursday 21 January 2010 (08:30-14:15pm London time)

Heads Up on new oil and gas disclosures

08 Jan 2010

Deloitte (United States) has published a Heads Up newsletter titled FASB Updates Oil and Gas Reserve Estimation and Disclosure Requirements.

The newsletter explains Accounting Standards Update (ASU) 2010-03, which FASB issued on 6 January 2010 to align the FASB's oil and gas reserve estimation and disclosure requirements in ASC 932* with new requirements of the SEC that became effective on 31 December 2009. Click to Download the Heads Up Newsletter (PDF 132k).

 

*Accounting Standards Codification (ASC) 932 comprises guidance previously contained in FASB Statements 19 and 69, Interpretations 33 and 36, and FSP FAS 19-1.

Deloitte webcast on year-end reporting

08 Jan 2010

On 13 January 2010, Deloitte (United States) will hold a 90-minute Dbriefs webcast on year-end reporting issues that will cover some IFRS matters.

Specific topics will include:
  • Themes and highlights from the December SEC/AICPA Conference
  • Recent developments related to US registrants' adoption of IFRSs
  • Regulatory views on disclosures related to goodwill impairments and non-GAAP measures
  • Comprehensive updates around the latest financial reporting developments
Details about the webcast:
  • Title: Year-End Reporting Issues: An Update on Current Issues and Items on the Horizon
  • Date and time: 13 January 2010, 2:00pm to 3:30pm US Eastern Standard Time (New York time)
  • Click here for More Information and Registration

 

IFRS 2009 model financial statements in Chinese

08 Jan 2010

Deloitte (China) has published the Chinese language translation of our IFRSs model financial statements for the year ended 31 December 2009. These model financial statements illustrate the application of the presentation and disclosure requirements of IFRSs by an entity that is not a first-time adopter of IFRSs.

They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in illustrative examples provided with a specific Standard. Click to download the IFRS Model Financial Statements for 2009 in Chinese (PDF 2,420k).

 

Hong Kong FRS model financial statements for 2009

08 Jan 2010

Deloitte's Asia-Pacific IFRS Centre of Excellence in Hong Kong has published illustrative financial statements for the year ended 31 December 2009. These statements illustrate the application of Hong Kong Financial Reporting Standards (HKFRSs), as well as the requirements of the Hong Kong Companies Ordinance and the Listing Rules of the Stock Exchange of Hong Kong and the Growth Enterprise Market.

The statements reflect early application of HKFRS 3 and Business Combinations (Revised in 2008) and HKAS 27 Consolidated and Separate Financial Statements (Revised in 2008) in advance of their effective dates. Because HKFRSs are identical to IFRSs, these statements also illustrate compliance with IFRSs for year ended 31 December 2009. Click to download the IFRS Model Financial Statements for 2009 in Chinese (PDF 1,214k).

 

Updated EFRAG 'endorsement status report'

07 Jan 2010

The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

The update reflects the endorsement of the amendment to IAS 32 on classification of rights issues (see our article from 28 December). Click to download the Endorsement Status Report as of 7 January 2010 (PDF 119k).

The following seven IASB pronouncements await EC endorsement:

Standards

Interpretations Amendments
You can always find the endorsement status report here.

 

Concerns about implementation of IFRS 3

07 Jan 2010

The United Kingdom Financial Reporting Council (FRC) has issued a study Accounting for Acquisitions examining the quality of accounting and reporting under IFRS 3 Business Combinations.

Companies told the FRC that acquisition accounting is costly and difficult, and at the same time investors said that the resulting information is not useful.
The FRC found that IFRS 3 "has been poorly applied by companies due to unfamiliarity with its requirements and the complexity of valuing intangible assets such as brands and customer relationships". The study found that companies had "provided insufficient or inconsistent information about material acquisitions in their audited accounts when compared to the rationale for these acquisitions and supporting explanations given in their business reviews".
The FRC intends to follow up on this study over the next 18 months and to provide feedback to the IASB. The FRC is the UK's independent regulator responsible for promoting confidence in corporate reporting and governance.
Click for the Accounting for Acquisition study (PDF 223k).

 

IASB Chairman will become ICAS President

07 Jan 2010

Sir David Tweedie, Chairman of the International Accounting Standards Board, has been nominated as Vice-President of The Institute of Chartered Accountants of Scotland (ICAS).

The ICAS Announcement (PDF 47k) said the appointment "is in recognition of Sir David's outstanding contribution to the accountancy profession and to ICAS, and is made with a view to his becoming President of the Institute in 2012. Sir David retires from the IASB on 30 June 2011". The role of Vice-President is unpaid, and will not interfere in any way with Sir David's IASB responsibilities.

 

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