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The #1 website for global accounting news
  • Saudi Arabia Image
  • Saudi companies need to reveal IFRS progress

    22 Aug 2016

    Listed entities in Saudi Arabia will have to report under IFRSs as adopted by the Saudi Organization for Certified Public Accountants (SOCPA) as off 1 January 2017. The Saudi Capital Market Authority (CMA) now requires disclosures regarding the entities' progress on adoption. The resolution could be seen as the result of lessons learned from IFRS transition in other jurisdictions that did not have such an overview over public entities’ IFRS readiness (for example in the European Union or Korea).

  • MB (Monitoring Board) (blue) Image
  • New member of the IFRS Foundation Monitoring Board

    19 Aug 2016

    The IFRS Foundation Monitoring Board (MB), responsible for the oversight of the IFRS Foundation, has published a press release announcing that the Ministry of Finance of the People’s Republic of China (China MOF) is now a member of the Monitoring Board.

  • IASB webcast (blue) Image
    FASB webcast (lt blue) Image
  • Joint IASB and FASB webcast on revenue

    15 Aug 2016

    On 15 September 2016, the IASB and FASB will host a joint webcast to discuss implementation of the requirements in IFRS 15 'Revenue from Contracts with Customers' and ASC 606.

  • FASB (US Financial Accounting Standards Board) (lt blue) Image
  • FASB proposes guidance on presentation

    12 Aug 2016

    The US Financial Accounting Standards Board (FASB) has released an exposure draft proposing changes related to how items are presented in a financial statement as part of the FASB’s larger project to create a new conceptual framework.

  • IASB (International Accounting Standards Board) (blue) Image
  • IASB provides updates to insurance project

    10 Aug 2016

    The IASB has provided additional information on its upcoming insurance standard related to field work, feedback statement on its Exposure Draft (ED), “Insurance Contracts”, and the effect of board redeliberations.

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image
  • IPSASB releases financial instruments webinar

    09 Aug 2016

    The International Public Sector Accounting Standards Board (IPSASB) has created a two-part webinar on financial instruments with Part A of the webinar covering the classification and measurement, as well as impairment of financial instruments, and Part B covering hedge accounting.

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  • July Image
  • IFRS on point — July 2016

    published 23 Aug 2016

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

  • Accounting Roundup — July 2016 Image
  • Accounting Roundup — July 2016

    published 02 Aug 2016

    This issue features articles on (1) the FASB’s issuance of proposed ASUs that would (a) provide guidance on an employee benefit plan’s presentation and disclosure of interests in a master trust and (b) amend the income tax disclosure requirements in ASC 740; (2) the AICPA’s release of its second set of working drafts designed to help entities in various industries implement the requirements in the FASB’s revenue standard, ASU 2014-09; and (3) the SEC’s issuance of a proposed rule that would amend certain of its disclosure requirements that may be redundant, duplicative, or outdated, or may overlap with other SEC, U.S. GAAP, or IFRS disclosure requirements.

  • Lipiec 2016 Image
  • Biuletyn MSSF — Lipiec 2016

    published 26 Jul 2016

    Polish language newsletter on financial reporting standards. This edition discusses (1) 'Clarifications to IFRS 15 'Revenue from Contracts with Customers'', (2) 'Disclosure Initiative (Amendments to IAS 7)', and (3) 'Recognition of Deferred Tax Assets for Unrealised Losses'.

  • Alternative performance measures: A practical guide Image
  • Alternative performance measures: A practical guide

    published 22 Jul 2016

    This newsletter explores the key messages from regulators, standard setters and investors about the use of APMs, with a particular focus on assisting compliance with ESMA’s Guidelines on Alternative Performance Measures. It also sets out what is considered to be best practice when presenting APMs and provides real-life examples of how entities are presenting APMs.

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