February

International conference on accounting education to be held in March 2011

02 Feb 2011

International accountancy and education leaders will meet on 8 March 2011 at the United Nations in Geneva for the Accountancy Education Forum, a full-day event jointly hosted by the United Nations Conference on Trade and Development (UNCTAD) and the International Accounting Education Standards Board (IAESB).

The Accountancy Education Forum will feature speakers and participants from North and South America, Asia, Europe, and Africa. The agenda includes panel discussions and interactive sessions that aim to share best practices, provide support tools, and answer questions, with a focus on the implementation of the International Education Standards set by the IAESB, and the UNCTAD-ISAR Accounting Model Curriculum.

Click for IFAC press release (link to IFAC website).

Deloitte publications update

02 Feb 2011

The following Deloitte publications are now available:

Deloitte (Australia)

  • Monthly Roundup - January 2011 edition, a summary of financial reporting developments during January 2011. Includes a high level update of key recent developments and considerations, including accounting for the Queensland floods and other natural disasters, Australian Securities and Investment Commission (ASIC) focus areas for December 2010 financial reports, recent amending standards and developments in financial instruments.

Deloitte (China)

  • Deloitte (China) has published new e-learning modules in Chinese on IAS 7 Statement of Cash Flows, IAS 23 Borrowing Costs, IAS 27 Consolidated and Separate Financial Statements (2008) and IFRS 3 Business Combinations (2008). The modules can be accessed on our CASPlus website.

Deloitte (Czech Republic)

  • Accounting News (PDF 206k), a summary of developments in Czech accounting standards, IFRS and US GAAP (in English). Highlights include a discussion on accounting for intangible assets and frequent issues in determining income tax contingencies under US GAAP.

Deloitte (United States)

  • Heads Up Boards Consider Feedback on Leases ED (PDF 165k) – addresses some other significant issues that were identified at the Leases roundtables and in comment letters, including transition methods, the treatment of lease incentives, and guidance on build-to-suit leases. Also includes discussion of industry-specific concerns.
  • Heads Up FASB Proposes Guidance on Balance Sheet Offsetting for Financial Assets and Financial Liabilities (PDF 153k) – discusses the FASB's recently issued exposure draft (ED) Offsetting. The ED is part of a joint effort between the FASB and IASB to converge their accounting standards on the offsetting of financial assets and financial liabilities.
  • Webcast IFRS for Insurers: The Latest on Insurance Contract Accounting – to be held on Friday, 4 February 2011, 2:00pm - 3:00pm (US Eastern) (registration details)

 

Translations of IASB pronouncements

01 Feb 2011

The IFRS Foundation has announced the publication of the following translations:

  • Spanish translations of Deferred Tax: Recovery of Underlying Assets (Amendments to IAS 12) and Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters (Amendments to IFRS 1) as issued in English by the IASB in December 2010 (available to IASB eIFRS/Comprehensive subscribers).

 

IASB webcasts on revised financial instruments impairment proposals

01 Feb 2011

On Friday, 4 February 2011 the IASB will be hosting two live webcasts on the supplementary document Financial Instruments: Impairment.

Topic: Supplementary document Financial Instruments: Impairment
Date and time: Friday, 4 February 2011, 10:00am GMT and repeated 4:00pm GMT
More information on the webcast and registration: Click here (link to IASB website)
More information on IAS Plus: Financial instruments – Impairment project summary

Notes from Day 1 of the additional February IASB meeting

01 Feb 2011

The IASB is holding an additional meeting in London on 1-2 February 2011, some of which is a joint meeting with the FASB.

We've posted Deloitte observer notes from the first day of the meeting (click through for direct access to the notes):

Tuesday, 1 February 2011

  • Leases (IASB/FASB)
    • How to distinguish between a lease contract and a service contract

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

Correction list for hyphenation

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