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Differential reporting

A collection of information about how the IASB and various jurisdictions deal with the financial reporting needs and requirements of different categories of entities, including listed entities, private entities, not-for-profit entities and public sector entities.

 

Related news

  • AASB essay on the Australian 'reporting entity concept'

  • Apr 04, 2014

  • The Australian Accounting Standards Board (AASB) has released an essay published by its AASB Research Centre, which explores the role of the 'reporting entity concept' in Australia's differential reporting regime.

  • FEE publishes issues paper on EPSAS

  • Mar 28, 2014

  • The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has published a paper discussing the issues emerging in the public debate on a possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states.

  • Australia seeks to finesse its differential reporting regime in light of IFRS 1 changes

  • Mar 19, 2014

  • The Australian Accounting Standards Board (AASB) has issued an exposure draft, and accompanying research paper, discussing the implications for entities moving between different 'tiers' of its differential reporting regime in light of changes made by the International Accounting Standards Board (IASB) to permit the repeated application of IFRS 1 'First-time Adoption of International Financial Reporting Standards'.

  • AASB believes the IFRS for SMEs should be updated in line with full IFRSs

  • Mar 13, 2014

  • The Australian Accounting Standards Board (AASB) has submitted a comment letter on the IASB’s Exposure Draft ED/2013/9 ‘Proposed amendments to International Financial Reporting Standard for Small and Medium-sized Entities’. In the letter the AASB expresses disappointment that the review of the standard has not been as comprehensive as hoped.

  • CCAB study highlights demand for international standards for financial reporting in the not-for-profit sector

  • Feb 26, 2014

  • The Consultative Committee of Accountancy Bodies (CCAB) has published the results of a study to establish whether there is a demand for the development of an international financial reporting framework, guidance or standards for use by not-for-profit organisations (NPO) in the not-for-profit-sector. Results indicate that there is a demand for an international standard for financial reporting in the not-for-profit sector.

  • FEE voices concerns regarding the development and implementation of EPSAS

  • Feb 21, 2014

  • The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has responded to the European Commission/Eurostat consultation on a possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states.

  • Malaysia finalises accounting standard for private entities

  • Feb 17, 2014

  • The Malaysian Accounting Standards Board has issued 'Malaysian Private Entities Reporting Standard' (MPERS) for use by private entities. The MPERS is based on the 'IFRS for SMEs' as issued by the IASB in July 2009, with some limited amendments.

  • European consultation on public sector standard setting

  • Dec 02, 2013

  • The European Commission and its directorate-general Eurostat, have released a public consultation paper dealing with the possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states. The report focuses on the issue of governance, and outlines views about the future governance arrangements and underlying key principles that might apply in the development of EPSAS.

  • New Zealand issues 'simple format' standards

  • Nov 26, 2013

  • The New Zealand External Reporting Board (XRB) and New Zealand Accounting Standards Board (NZASB) have released two new series of standards which provide a 'simple format reporting package' for eligible not-for-profit and public sector public benefit entities. The new standard series implement further parts of the revised New Zealand Accounting Standards Framework and provide eligible entities with either a simplified accrual basis of accounting, or guidance on how to report using the cash basis.

  • AASB issues guidance on consolidation in the not-for-profit sector

  • Nov 18, 2013

  • The Australian Accounting Standards Board (AASB) has released an Amending Standard that provides implementation guidance for not-for-profit entities under the Australian equivalents to IFRS 10 'Consolidated Financial Statements' (AASB 10) and IFRS 12 'Disclosure of Interests in Other Entities' (AASB 12). The guidance explains and illustrates how not-for-profit and public sector entities can apply the key concepts of 'control' and 'structured entities' arising under those standards, particularly where circumstances from a for-profit perspective do not readily translate to a not-for-profit perspective.

  • New Zealand releases final proposals to implement its new Accounting Standards Framework

  • Nov 14, 2013

  • The New Zealand Accounting Standards Board (NZASB) has released a fifth package of exposure drafts dealing with proposed accounting standards applying to not-for-profit public benefit entities. The exposure drafts propose enhancements to existing New Zealand Public Benefit Entity Accounting Standards (PBE Standards) to make them appropriate for the top two 'tiers' of not-for-profit entities.

  • Survey on reporting in the not-for-profit sector

  • Nov 13, 2013

  • A number of accounting bodies in the United Kingdom and Ireland have launched a survey in order to understand international accounting practices in the not-for-profit sector. The survey is part of a wider research project to establish whether there is a demand for the development of an international financial reporting framework, guidance or standards for the not-for-profit-sector.

  • New Zealand provides more clarity around standard setting for 'public benefit entities'

  • Oct 16, 2013

  • The New Zealand External Reporting Board (XRB) has released a new policy paper that provides a 'development principle' as to how standards should be set for the public benefit entities (PBEs) including public sector entities and not for profit entities. The paper builds on the existing guidance in the New Zealand Accounting Standards Framework and outlines more detail about how competing developments will be considered in setting so-called 'PBE Standards', which are primarily based on International Public Sector Accounting Standards (IPSAS).

  • New proposals for private entity reporting in Malaysia

  • Aug 26, 2013

  • The Malaysian Accounting Standards Board (MASB) has published an exposure draft with revised proposals for 'private entity' reporting in Malaysia. The new proposals would remain based on the IFRS for SMEs, but would make some amendments to it in the Malaysian context, and have a wider application than earlier proposals.

  • FASB issues PCC proposal on alternative consolidation requirements for private companies

  • Aug 23, 2013

  • The Financial Accounting Standards Board (FASB) has issued a proposal that intends to improve financial reporting for private companies within US Generally Accepted Accounting Principles (GAAP). The proposal would give private companies the option not to apply the variable interest entity (VIE) guidance in ASC 810 to certain interests in entities under common control.

  • FRC publishes revised FRSSE to reflect new UK accounting standards

  • Aug 01, 2013

  • The Financial Reporting Council (FRC) has published an updated ‘Financial Reporting Standard for Smaller Entities’ (FRSSE) effective from January 2015. This updates the Financial Reporting Standard for Smaller Entities (effective April 2008) for the changes as a result of the introduction of FRS 100 ‘Application of Financial Reporting Requirements’ FRS 101 ‘Reduced Disclosure Framework’ and FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

  • FRC issues draft new standard for Insurance Contracts

  • Jul 29, 2013

  • The Financial Reporting Council (FRC) has today issued Financial Reporting Exposure Draft (FRED) 49: ‘Draft FRS 103 Insurance Contracts’ proposing a new Financial Reporting Standard for Insurance Contracts which will be applicable for accounting periods beginning on or after 1 January 2015. The FRC are inviting comments on the Exposure Draft (ED) and the accompanying Implementation Guidance by 31 October 2013.

  • FASB issues three PCC proposals

  • Jul 01, 2013

  • The Financial Accounting Standards Board (FASB) has issued three proposals that intend to improve financial reporting for private companies within US Generally Accept Accounting Principles (GAAP). The three proposals provide guidance on accounting for intangible assets acquired in business combinations, goodwill, and certain types of interest rate swaps for private companies.

  • FASB endorses three PCC proposals

  • Jun 10, 2013

  • The US Financial Accounting Standards Board (FASB) has voted to approve three proposed alternatives by the Private Company Council (PCC) to improve financial reporting for private companies within US Generally Accepted Accounting Principles (GAAP).

  • New Zealand issues new standards based on IPSAS for public sector entities

  • May 23, 2013

  • The New Zealand External Reporting Board (XRB) and the New Zealand Accounting Standards Board (NZASB) have issued a package of new pronouncements that will apply to New Zealand public sector 'public benefit entities' (PBEs, essentially not for profit entities) from 1 July 2014. The new standards are largely based on International Public Sector Accounting Standards (IPSAS) published by the International Public Sector Accounting Standards Board (IPSASB).

  • PCC proposes alternatives to US GAAP for private companies

  • May 08, 2013

  • The Private Company Council (PCC) has voted to approve proposed alternatives to improve financial reporting for private companies within US Generally Accepted Accounting Principles (GAAP). This is the first step in the process towards endorsement by the FASB.

  • Denmark replaces existing accounting standards for SMEs with one single standard

  • Apr 22, 2013

  • In an effort to modernise accounting for small and medium-sized entities (SMEs) and to inspire the preparation of informative and relevant financial statements, the Accounting Technical Committee of FSR – Danske Revisorer (FSR – Danish Auditors) has published a new accounting standard replacing existing guidelines scattered so far through a number of standards.

  • FASB updates proposed private company decision-making framework

  • Apr 16, 2013

  • The United States Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) have issued an updated Invitation to Comment on the private company decision-making framework. The goal of the Invitation to Comment is to assist the FASB and the PCC to ultimately develop a guide that can be use in determining whether and in what circumstances to provide alternative recognition, measurement, disclosure, display, effective date, or transition guidance for private companies reporting under US GAAP.

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