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    GPF meeting (mid blue) Image
  • Summary of the June 2017 joint CMAC-GPF meeting

    23 Aug 2017

    Representatives from the International Accounting Standards Board (IASB) met with both the Capital Markets Advisory Council (CMAC) and Global Preparers Forum (GPF) in London on 15 and 16 June 2017. Notes from the joint meeting have now been released.

  • AICPA (American Institute of CPAs) (lt green) Image
  • Hyperinflationary economies - updated IPTF watch list available

    23 Aug 2017

    IAS 29 'Financial Reporting in Hyperinflationary Economies' defines and provides general guidance for assessing whether a particular jurisdiction's economy is hyperinflationary. But the IASB does not identify specific jurisdictions. The International Practices Task Force (IPTF) of the AICPA's Centre for Audit Quality (CAQ) monitors the status of 'highly inflationary' countries. The Task Force's criteria for identifying such countries are similar to those for identifying 'hyperinflationary economies' under IAS 29.

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image
  • IPSASB consults on accounting for revenue and non-exchange expenses

    23 Aug 2017

    The International Public Sector Accounting Standards Board (IPSASB) has published a consultation paper on potential recognition and measurement approaches for revenue and non-exchange expenses. The paper proposes updating existing IPSAS 23 'Revenue from Non-Exchange Transactions (Taxes and Transfers)' as well as to replace current IPSAS dealing with revenue arising from exchange transactions and construction contracts with an IPSAS based on IFRS 15.

  • IAASB (International Auditing and Assurance Standards Board) (lt gray) Image
    IAESB (International Accounting Education Standards Board) (lt gray) Image
  • IAASB, IESBA, and IAESB outline need for more professional scepticism

    15 Aug 2017

    The International Auditing and Assurance Standards Board (IAASB), the International Ethics Standards Board for Accountants (IESBA), and the International Accounting Education Standards Board (IAESB) have jointly published 'Toward Enhanced Professional Skepticism'.

  • ICAEW (Institute of Chartered Accountants in England and Wales) (lt green) Image
  • ICAEW report on non-comparable disclosure under IFRS

    03 Aug 2017

    The Institute of Chartered Accountants in England and Wales (ICAEW) has released a report 'Disclosure quality and international comparability under IFRS: evidence from pension discount rates, impairment and capitalisation of development costs' that argues that non-comparable disclosure under IFRS is a problem.

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  • A roadmap to distinguishing liabilities from equity (2017) Image
  • A roadmap to distinguishing liabilities from equity (2017)

    published 21 Aug 2017

    This Roadmap provides an overview of the guidance in ASC 480-10 and how to apply it in practice. That guidance requires (1) issuers to classify certain types of shares of stock and certain share-settled contracts as liabilities or, in some circumstances, as assets and (2) SEC registrants to classify certain types of redeemable equity instruments as temporary equity. For ease of reference, we have accompanied our discussion with the related authoritative text.

  • A roadmap to foreign currency transactions and translations (2017) Image
  • A roadmap to foreign currency transactions and translations (2017)

    published 18 Aug 2017

    This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under ASC 830. Each chapter of the publication typically starts with a brief introduction and includes excerpts from ASC 830, Deloitte’s interpretations of those excerpts, and examples to illustrate the relevant guidance. The publication also addresses relevant SEC considerations and highlights from the meetings of the CAQ SEC Regulations Committee’s International Practices Task Force. In addition, the Roadmap identifies pending content (in certain circumstances) from recently issued ASUs.

  • IFRS on Point — June 2017 Image
  • IFRS on Point — June 2017

    published 26 Jul 2017

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

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