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  • IASB document (blue) Image

  • IASB publishes proposed amendments to IFRS 17

    26 Jun 2019

    The International Accounting Standards Board (IASB) has published an exposure draft 'Amendments to IFRS 17' to address concerns and implementation challenges that were identified after IFRS 17 'Insurance Contracts' was published in 2017. Comments are requested by 25 September 2019.

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  • IASB posts webcast on borrowing costs and revenue recognition

    24 Jun 2019

    The IASB has posted a webcast, by IASB technical staff Jawaid Dossani and Nicolette Lange, that discusses conclusions reach at by the IFRS Interpretation Committee related to the application of IAS 23, ‘Borrowing Costs’ and its interaction with IFRS 15, ‘Revenue from Contracts with Customers’.

  • IASB (International Accounting Standards Board) (blue) Image

  • Updated IASB work plan — Analysis

    24 Jun 2019

    Following the IASB's June 2019 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in April. Most changes relate to exposure drafts having been published or comment letter periods having ended.

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  • June 2019 IASB meeting notes posted

    24 Jun 2019

    The IASB met in London on 17–19 June 2019. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • Agenda for the June 2019 DPOC meeting

    20 Jun 2019

    The Trustees of the IFRS Foundation will be meeting in Munich from 25 to 27 June 2019. However, only the meeting of the Due Process Oversight Committee (DPOC) on 25 June will be held in public.

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  • Agenda for the July 2019 ASAF meeting

    19 Jun 2019

    The International Accounting Standards Board (IASB) has released an agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB's offices in London on 11 and 12 July 2019.

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  • Chair of the IFRS Foundation Trustees speaks on digitalisation

    19 Jun 2019

    On 19 June 2019, Erkki Liikanen, Chair of the Trustees of the IFRS Foundation, gave a speech discussing whether digitalisation will deliver increased productivity to the global economy and how the IFRS Foundation is undertaking its own digital transformation.

  • CMAC (Capital Markets Advisory Committee) (mid blue) Image

  • CMAC call for members

    18 Jun 2019

    The IASB's Capital Markets Advisory Committee (CMAC) is currently seeking applications for membership. New candidates would join the CMAC for a three-year term beginning 1 January 2020, renewable once for an additional three-year term.

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  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent Image

  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent

    published 25 Jun 2019

    In April 2016, the IASB issued Clarifications to IFRS 15 which amended the principal-versus-agent implementation guidance and illustrations in IFRS 15 to clarify how the principal-versus-agent indicators should be evaluated to support an entity’s conclusion that it controls a specified good or service before it is transferred to a customer. However, given the complexities of some arrangements, including those involving three or more parties, the evaluation of whether an entity is acting as a principal or as an agent continues to require significant judgement, and conclusions reached under IAS 18 may not be the same as those reached under IFRS 15.

  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform Image

  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform

    published 17 Jun 2019

    We support the IASB’s response in proposing amendments to both IFRS 9 and IAS 39 that deal with the immediate need of addressing the effect of the uncertainty arising from changes in benchmark interest rates on the “highly probable” requirement for cash flow hedges and the designated risk for cash flow and fair value hedges and suggest the IASB work on finalizing these amendments and begin the work on its second phase of amendments concurrently.

  • EITF Snapshot — June 2019 Image

  • EITF Snapshot — June 2019

    published 14 Jun 2019

    This issue summarizes the topics discussed and conclusions reached at the June 13, 2019, meeting of the Emerging Issues Task Force.

  • IFRS on Point — May 2019 Image

  • IFRS on Point — May 2019

    published 12 Jun 2019

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

  • Heads Up — FASB extends certain private-company accounting alternatives to not-for-profit entities Image

  • Heads Up — FASB extends certain private-company accounting alternatives to not-for-profit entities

    published 12 Jun 2019

    This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2019-06, "Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities." The ASU permits not-for-profit entities to elect alternative approaches to account for goodwill and certain identifiable intangible assets acquired in a business combination.

  • Heads Up — FASB proposes simplifications to accounting for income taxes Image

  • Heads Up — FASB proposes simplifications to accounting for income taxes

    published 29 May 2019

    This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update Income Taxes (Topic 740), "Simplifying the Accounting for Income Taxes." The amendments in the proposed ASU are intended to reduce the cost and complexity of applying ASC 740 and were submitted by stakeholders in connection with the Board’s initiative to reduce complexity in accounting standards.

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