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  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • ECON votes to confirm EC proposal for role of EFRAG president

    30 May 2016

    The Committee on Economic and Monetary Affairs (ECON) of the European Parliament (EP) agreed today with the candidate proposed by the European Commission for the role of President of the European Financial Reporting Advisory Group (EFRAG).

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  • Frequently asked questions on the ESMA APM Guidelines

    25 May 2016

    In June 2015, the European Securities and Markets Authority (ESMA) published its final Guidelines on Alternative Performance Measures (APMs) for listed issuers that are effective from 3 July 2016. Since many questions on the application of these guidelines have reached the UK Financial Reporting Council (FRC), the FRC has developed a set of responses to frequently asked questions.

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  • Joint Statement on the use of IFRSs in Indonesia

    25 May 2016

    In connection with the IFRS Foundation Trustees’ meeting currently held in Jakarta, the Trustees, the Indonesia Financial Services Authority (OJK) and the Institute of Indonesia Chartered Accountants (IAI) have signed a joint agreement that is aimed at a deepened cooperation as Indonesia furthers the convergence of its national GAAP with IFRSs.

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  • Former French MEP to be heard as EFRAG President

    23 May 2016

    An agenda for the next meeting of the Committee on Economic and Monetary Affairs (ECON) of the European Parliament reveals that Jean-Paul Gauzès, Member of the European Parliament from 2004 until 2014, will be heard as candidate proposed by the European Commission for the role of President of the European Financial Reporting Advisory Group (EFRAG) on 30 May.

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  • Agenda for the June 2016 IFRS Advisory Council meeting

    21 May 2016

    An agenda has been released for the upcoming meeting of the IFRS Advisory Council, which is being held in London on 13-14 June 2016. Highlights of the meeting will be thorough discussions of the 2015 Agenda Consultation and of technological disruption of financial reporting.

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  • EFRAG, EFFAS and ABAF/BVFA joint investor outreach on leases

    20 May 2016

    The European Financial Reporting Advisory Group (EFRAG), the European Federation of Financial Analysts Societies (EFFAS), and the Association Belge des Analystes Financiers (ABAF/BVFA) will host a joint event on 5 July in Brussels on new leases standard, IFRS 16.

  • IASB (International Accounting Standards Board) (blue) Image
  • IASB updates work plan

    20 May 2016

    Following its May 2016 meeting, the IASB has updated its work plan. As mentioned before, directly tracing the Board's progress on the individual projects has become impossible since the change of the work plan format in July 2015, unless the Board makes definite progress or has to make larger corrections. Of these, only a few can be identified since the previous work plan. However, the IASB has begun to indicate the month which issuance of exposure drafts or final standards may occur.

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  • Heads Up — FASB proposes amendments to simplify the accounting for goodwill impairment

    published 24 May 2016

    This Heads Up discusses the FASB's recently issued proposed ASU, "Simplifying the Accounting for Goodwill Impairment," which would remove step 2 from the goodwill impairment test under current guidance. An entity would instead recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value.

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  • Sixth Global IFRS Banking Survey — No time like the present

    published 24 May 2016

    Deloitte has issued its ‘Sixth Global IFRS Banking Survey – No time like the present’. This year’s version captures the current views of 91 banks – including 16 global systemically important financial institutions (G-SIFIs) – on how technical IFRS 9 impairment requirements and modelling challenges are being addressed.

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  • IFRS on point — April 2016

    published 23 May 2016

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

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  • EFRAG endorsement status report 17 May 2016

    published 17 May 2016

    This endorsement status report update reflects that EFRAG published draft endorsement advice on 'Clarifications to IFRS 15'. Endorsement is currently expected in the first quarter of 2017.

  • Heads Up — FASB makes narrow-scope amendments to revenue standard and provides practical expedients Image
  • Heads Up — FASB makes narrow-scope amendments to revenue standard and provides practical expedients

    published 11 May 2016

    This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2016-12, "Narrow-Scope Improvements and Practical Expedients," which amends certain aspects of the Board's May 2014 revenue standard (ASU 2014-09, "Revenue From Contracts With Customers"). The amendments address certain implementation issues identified by the FASB's transition resource group and clarify, rather than change, the new revenue standard's core revenue recognition principles.

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  • iGAAP 2016 — Volume A: A guide to IFRS reporting

    published 10 May 2016

    This two-part volume covers all IFRSs other than those dealing exclusively with financial instruments. It includes: (i) updated guidance on applying the new revenue Standard, IFRS 15; and (ii) recent amendments to IFRSs, including the new options available under IAS 27 for accounting for investments in separate financial statements.

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  • iGAAP 2016 — Volume D: IFRS disclosures in practice

    published 10 May 2016

    This new volume, sourced from IFRS accounts from around the world, covers many different areas of the Standards providing real-life examples of good disclosure practice. It is available as an ebook only.

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