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The #1 website for global accounting news
  • IFRS Foundation issues Formula Linkbase 2015

    20 Apr 2015

    The IFRS Foundation has issued the 2015 IFRS Taxonomy Formula Linkbase. The Formula Linkbase is updated from the 2014 version; it is designed to help improve the data quality of IFRS Taxonomy filings and to provide additional guidance for both technical and financial reporting audiences so that they can better understand the IFRS concepts and their meanings.

  • IASB to discuss effective date of IFRS 15

    20 Apr 2015

    In preparation for the IASB's meeting next week, an agenda paper has been released today discussing the effective date of IFRS 15 and asking the IASB whether it wishes to defer the effective date in the light of (i) issues emerging from discussions of the Revenue Transition Resource Group (TRG) and (ii) the FASB’s tentative decision regarding the effective date.

  • Agenda for the April 2015 IASB meeting

    17 Apr 2015

    The IASB will meet at its offices in London on 27-29 April 2015. Topics discussed at the meeting will include fair value measurement, revenue recognition, IFRS Interpretation issues, the disclosure initiative, and inflation.

  • Hans Hoogervorst speaks about the reasons behind the IASB's work

    16 Apr 2015

    At the IFRS Foundation trustees’ stakeholder event in Toronto, Canada, IASB Chairman Hans Hoogervorst presented a mission statement for the IASB and the IFRS Foundation explaining not only ‘what’ but also ‘why’ the organisation does what it does.

  • Recording of the ECON hearing of the new EFRAG President

    16 Apr 2015

    The Committee on Economic and Monetary Affairs (ECON) of the European Parliament has made available a recording of the hearing of Dr Wolf Klinz, who was recently nominated as President of the Board of the European Financial Reporting Advisory Group (EFRAG) by the European Commission.

  • IASB's Financial Instruments Guide 2015 available now

    16 Apr 2015

    The IFRS Foundation has announced that the 'Financial Instruments 2015 Guide' is now available to buy. The guide offers the complete text, with extensive cross-references, of the standards on financial instruments issued by the IASB.

  • Summary of March GPF meeting now available

    16 Apr 2015

    Minutes of the meeting of the Global Preparers Forum (GPF) with representatives of the International Accounting Standards Board (IASB) held in London on Thursday, 5 March 2015 are now available.

  • Deloitte releases e-learning module on IFRS 15

    15 Apr 2015

    Deloitte’s Global Audit Learning group has released an e-learning module on IFRS 15. This new module is an addition to the extensive catalogue of IFRS e-learning content made freely available by Deloitte.

  • Report on IFRS adoption by Japanese companies

    15 Apr 2015

    The Financial Services Agency of Japan (FSA) has released a report studying IFRS adoption by Japanese companies. The report is primarily intended to provide information for Japanese companies planning to move to IFRSs to further increase voluntary adoption of IFRSs by public companies in Japan. However, it also offers insights into the progress of adoption of IFRSs in Japan in general.

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  • Heads Up — FASB issues ASU on customers' accounting for cloud computing costs

    published 17 Apr 2015

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2015-05, "Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." Released as part of the Board’s simplification initiative, the ASU amends ASC 350-40 to provide customers with guidance on determining whether a cloud computing arrangement contains a software license that should be accounted for as internal-use software.

  • Heads Up — FASB permits use of practical expedient for retirement benefit plan measurement

    published 17 Apr 2015

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2015-04, "Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets." The ASU gives an entity with a fiscal year-end that does not coincide with a calendar month-end (e.g., an entity that has a 52- or 53-week fiscal year) the ability, as a practical expedient, to measure its defined benefit retirement obligations and related plan assets as of the month-end that is closest to its fiscal year-end.

  • IFRS on point — March 2015

    published 16 Apr 2015

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

  • Deloitte e-learning — IFRS 15

    published 15 Apr 2015

    This Deloitte e-learning module provides training in the background, scope and principles under IFRS 15 'Revenue from Contracts with Customers', and the application of this Standard. Topics covered include the principles for the recognition of revenue to the sale of goods, services, licenses, royalties, and any variable consideration or modifications to contracts; and guidance is provided on how these principles should be applied by using the new five step revenue recognition model.

  • Deloitte digest — February 2015

    published 08 Apr 2015

    This publication from Deloitte (Canada) summarizes current financial reporting rules and standards; it also provides an overview of recent regulatory and professional developments.

  • Heads Up — FASB simplifies guidance on presentation of debt issuance costs

    published 07 Apr 2015

    This Heads Up discusses FASB Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense.

  • A roadmap to accounting for share-based payment awards

    published 07 Apr 2015

    This Roadmap combines the share-based payment accounting rules from ASC 718 (for employee awards), ASC 505 (for nonemployee awards), and other topics (such as ASC 740 and ASC 805) with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format.

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    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.