This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.
The #1 website for global accounting news
  • IOSCO (International Organization of Securities Commissions) (dark gray) Image
  • IOSCO statement on importance of disclosure about COVID-19

    02 Jun 2020

    The International Organization of Securities Commissions (IOSCO) has issued a public statement on the importance of disclosure about COVID-19 aspects to highlight financial reporting issues that should be considered by issuers in order to provide investors with relevant and reliable information in their financial reports and related disclosure documents.

  • IASB podcast (blue) Image
  • IASB issues podcast on latest Board developments (May 2020)

    29 May 2020

    The IASB has released a podcast featuring IASB Chair, Hans Hoogervorst and Vice-Chair, Sue Lloyd discussing deliberations at (1) the May IASB meeting and (2) the Board's supplementary meeting on IFRS 16 covid-19-related rent concessions.

  • IASB document (blue) Image
  • IASB finalises amendment to IFRS 16 regarding COVID-19-related rent concessions

    28 May 2020

    The International Accounting Standards Board (IASB) has published 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' amending the standard to provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. Concurrently, the IASB also published a proposed Taxonomy Update to reflect this amendment.

  • European Union Image
  • EC review of the NFRD postponed by three months

    27 May 2020

    In February 2020, the European Commission (EC) launched an initiative to review the European Non-Financial Reporting Directive (NFRD). The COVID-19 pandemic has now led to changes in the timetable.

  • IASB podcast (blue) Image
  • IASB releases podcast on IFRS 17 (May 2020)

    26 May 2020

    The IASB has released a podcast featuring IASB member Darrel Scott and technical staff member Vitalina Kobernik as they discuss the developments at the May 2020 Board meeting related to the amendments to IFRS 17 'Insurance Contracts'.

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image
  • Updated IPSAS-IFRS alignment dashboard

    26 May 2020

    The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.

  • IASB (International Accounting Standards Board) (blue) Image
  • Updated IASB work plan — Analysis (May 2020 meetings)

    25 May 2020

    Following the IASB's May 2020 supplementary and regular meetings, we have analysed the IASB work plan to see what changes have resulted from the meetings and other developments since the work plan was last revised in April 2020. Almost all changes result from the numerous exposure drafts and final amendments the IASB has published recently.

  • IASB meeting (blue) Image
  • May 2020 IASB meeting notes posted

    24 May 2020

    The IASB met via video conference on 20–21 May 2020 to discuss six topics. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

News RSS Feed  Link
 
  • EPS RM cover Image
  • A Roadmap to the Presentation and Disclosure of Earnings per Share (2020)

    published 29 May 2020

    This Roadmap provides an overview of the accounting and disclosure guidance in ASC 260 as well as insights into how to apply the guidance in practice. The 2020 edition includes several new discussions, as well as some modifications to previously expressed views, to reflect our latest thinking and input from standard setters and regulators.

  • A Roadmap to the Preparation of the Statement of Cash Flows (2020) Image
  • A Roadmap to the Preparation of the Statement of Cash Flows (2020)

    published 29 May 2020

    This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance on the statement of cash flows, primarily that in ASC 230, 'Statement of Cash Flows'. The 2020 edition includes several new discussions as well as some modifications to previously expressed views.

  • ed-2020-1 Image
  • Deloitte comment letter on the IASB's proposed amendments as a result of the second phase of its project on the IBOR reform

    published 25 May 2020

    We are largely supportive of the amendments. In particular, we support the key changes that ensure that entities that apply hedge accounting will continue to do so as they transition to new benchmark interest rates and that the accounting for the modification of hedged items, when those modifications arise directly from the reforms, are reflected on a prospective basis via the application of IFRS 9:B5.4.5. We consider these as being the two most important elements of the proposals.

  • COVID video series default image Image
  • Accounting considerations related to COVID-19 — Employee benefits

    published 18 May 2020

    Entities may be considering or implementing restructuring plans to mitigate their exposures associated with unforeseen consequences of the COVID-19 pandemic. In determining how to account for these measures, entities must start by identifying the nature and characteristics of each proposed compensation plan because it may affect the timing of the recognition of the benefits provided to employees. Learn more about how to account for employee benefits in response to COVID-19 in this video.

  • COVID video series default image Image
  • Accounting considerations related to COVID-19 — Government assistance

    published 18 May 2020

    Certain government assistance may be offered in various ways. For example, reimbursement of expenses, reduction of income taxes, or investment tax credits. As a first step in accounting for the various measures offered by a government is determining whether they should be accounted for by applying IAS 20 'Accounting for Government Grants and Disclosure of Government Assistance' or IAS 12 'Income Taxes'.

  • A Roadmap to Accounting and Financial Reporting for Carve-Out Transactions (2020) Image
  • A Roadmap to Accounting and Financial Reporting for Carve-Out Transactions (2020)

    published 15 May 2020

    This Roadmap summarizes key factors for entities to consider in preparing carve-out financial statements (i.e., financial statements derived from those of a larger parent entity). Topics discussed include the basic principles of a carve-out transaction, accounting and disclosure guidance on common balance sheet and income statement items included in carve-out financial statements, and SEC reporting topics that entities should take into account when preparing IPO and other SEC filings. AppendixD of the Roadmap outlines the key changes made since the publication of the 2020 edition.

  • Heads Up — Highlights of the CARES Act Image
  • Heads Up — Highlights of the CARES Act

    published 15 May 2020

    This Heads Up discusses key aspects of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides $2.2 trillion of economy-wide financial stimulus in the form of financial aid to individuals, businesses, nonprofits, states, and municipalities. The Heads Up focuses on provisions of the CARES Act related to financial instruments, income taxes, and accounting models for government assistance.

  • More publications
  • Publication RSS Feed  Link
     

    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.