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  • IASB meeting (blue) Image

  • October 2021 IASB meeting agenda posted

    15 Oct 2021

    The IASB has posted the agenda for its next meeting, which will be held in its office in London on 25–28 October 2021. There are ten topics on the agenda.

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  • New TCFD status report, additional and updated guidance

    15 Oct 2021

    The Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders has published a fourth status report providing an overview of the extent to which companies in their 2020 reports included information aligned with the core TCFD recommendations published in June 2017.

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  • Third IVSC perspectives paper on ESG and business valuation

    15 Oct 2021

    The International Valuation Standards Council (IVSC) has published a third perspectives paper 'ESG and Real Estate Valuation' that focuses on environmental factors that relate to real estate valuations, especially on valuations of existing real estate.

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  • IASB video on proposed reduced disclosure IFRS

    14 Oct 2021

    The IASB has posted a video hosted by IASB Board Member Jianqiao Lu which provides an overview of the exposure draft (ED), ‘Subsidiaries without Public Accountability: Disclosures’.

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  • FRC publishes thematic review findings on IAS 37

    14 Oct 2021

    The UK Financial Reporting Council (FRC) has published a thematic review to help companies improve the quality of their corporate reporting in relation to IAS 37 'Provisions, Contingent Liabilities and Contingent Assets'.

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  • ISAR 38

    12 Oct 2021

    The thirty-eighth session of the United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) will be held in Geneva on 9 - 12 November 2021.

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  • FRC Lab report on digital reporting

    12 Oct 2021

    A new report from the Financial Reporting Lab of the UK Financial Reporting Council (FRC) reviews fifty early structured reports and sets out key considerations and tips for companies to help them deliver the quality that will be expected for companies’ official filings.

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  • IFRS model financial statements 2021

    11 Oct 2021

    The model financial statements of International GAAP Holdings Limited for the year ended 31 December 2021 are intended to illustrate the presentation and disclosure requirements of IFRSs without the use of any actual numbers. They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in illustrative examples provided within a specific standard.

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  • On the Radar — Comparing IFRS Standards and U.S. GAAP: Bridging the differences Image

  • On the Radar — Comparing IFRS Standards and U.S. GAAP: Bridging the differences

    published 15 Oct 2021

    Although U.S. GAAP and IFRS® Standards are built on largely similar concepts and often lead to similar accounting outcomes, there are many differences in the specific accounting requirements. Therefore, it can be difficult to directly compare financial statements that have been prepared under these different standards.

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  • Roadmap: Comparing IFRS Standards and U.S. GAAP (2021)

    published 15 Oct 2021

    This Roadmap rovides an overview of the most significant differences between U.S. GAAP and IFRS® Standards — two of the most widely used accounting standards in the world. The 2021 edition includes updated and expanded guidance that reflects standards effective as of January 1, 2022, for calendar-year-end public entities, as well as On the Radar, a new section that briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in this Roadmap.

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  • On the Radar — Impairments and disposals of long-lived assets and discontinued operations (October 2021)

    published 12 Oct 2021

    Long-lived assets within the scope of ASC 360-10 are accounted for and tested for impairment differently depending on the entity’s intent regarding the assets. Long-lived assets that the entity intends to hold and use in its operations, including long-lived assets that the entity intends to abandon, distribute to owners, or exchange in a nonmonetary transaction accounted for at carrying amount, are tested for impairment when a triggering event occurs by performing a two-step recoverability test. By contrast, long-lived assets that the entity intends to sell are tested for impairment upon classification as held for sale and in each subsequent reporting period by comparing their carrying amount with their fair value less costs to sell.

  • Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations (2021) Image

  • Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations (2021)

    published 12 Oct 2021

    This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations. The 2021 edition includes updated and expanded guidance as well as On the Radar (also available as a stand-alone publication), a high-level synopsis of accounting and reporting issues associated with impairments and disposals of long-lived assets and discontinued operations.

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  • On the Radar — Equity method investments and joint ventures (October 2021)

    published 12 Oct 2021

    An investor must consider the substance of a transaction as well as the form of an investee when determining the appropriate accounting for its ownership interest in the investee. If the investor does not control the investee and is not required to consolidate it, the investor must evaluate whether to use the equity method to account for its interest. This evaluation frequently requires the use of significant judgment.

  • Roadmap: Equity Method Investments and Joint Ventures (2021) Image

  • Roadmap: Equity Method Investments and Joint Ventures (2021)

    published 12 Oct 2021

    This Roadmap provides Deloitte’s insights into and interpretations of the guidance on accounting for equity method investments and joint ventures. The 2021 edition includes updated and expanded guidance as well as On the Radar, a new section that briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.

  • Roadmap: SEC Reporting Considerations for Equity Method Investees (2021) Image

  • Roadmap: SEC Reporting Considerations for Equity Method Investees (2021)

    published 11 Oct 2021

    This Roadmap combines the SEC’s guidance on reporting for equity method investments with Deloitte’s interpretations (Q&As) and examples in a comprehensive, reader-friendly format. The 2021 edition includes updated and expanded guidance as well as On the Radar, a new section that briefly summarizes emerging issues and trends related to financial reporting guidance for equity method investments.

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  • IFRS model financial statements 2021

    published 11 Oct 2021

    The model financial statements of International GAAP Holdings Limited for the year ended 31 December 2021 are intended to illustrate the presentation and disclosure requirements of IFRS Standards without the use of any actual numbers. They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in illustrative examples provided within a specific Standard.

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  • On the Radar — SEC reporting considerations for equity method investees (October 2021)

    published 11 Oct 2021

    SEC registrants may have equity method investments, including those accounted for under the fair value option or hypothetical liquidation basis. Such registrants must consider whether to provide financial information about the investee in any report filed with the SEC that includes their own financial statements. This requirement applies to all investments accounted for under the equity method.

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