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
  • IASB meeting (blue) Image
  • Pre-meeting summaries for the October 2021 IASB meeting

    21 Oct 2021

    The IASB meets in London on Monday, Tuesday, Wednesday and Thursday of the week beginning 25 October 2021. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. We summarised the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

  • ASBJ (Accounting Standards Board of Japan) Image
    FASB (US Financial Accounting Standards Board) (lt blue) Image
  • FASB and ASBJ hold biannual meeting

    20 Oct 2021

    On 18-19 October 2021, the FASB and the Accounting Standards Board of Japan (ASBJ) held a joint virtual meeting. The meeting was the 30th in a series of biannual meetings between the two standard setters.

  • 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.

  • TCFD Image
  • 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.

  • IVSC (International Valuation Standards Council) (lt green) Image
  • 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.

News RSS Feed  Link
 
  • hedge roadmap Image
  • Roadmap: Hedge accounting

    published 21 Oct 2021

    This Roadmap provides an overview of the FASB’s authoritative guidance on hedge accounting in ASC 815 as well as our insights into and interpretations of how to apply that guidance in practice. Hedge accounting guidance is a complex aspect of GAAP developed over many years in response to constituents’ requests for interpretive guidance. This Roadmap is intended to help entities navigate that accounting and financial reporting guidance, reduce complexity, and arrive at appropriate accounting conclusions. It includes 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.

  • otr-hedging Image
  • On the Radar — Hedge accounting

    published 21 Oct 2021

    Some entities mitigate certain risks by entering into separate contracts that meet the definition of a derivative instrument. For such circumstances, ASC 815 allows entities to use a specialized hedge accounting for qualified hedging relationships. If hedge accounting is not applied, changes in the fair values of derivative instruments are recognized in earnings in each reporting period, which may or may not match the period in which the risks that are being hedged affect earnings. Therefore, the objective of hedge accounting is to match the timing of income statement recognition of the effects of the hedging instrument with the timing of recognition of the hedged risk.

  • 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.

  • ifrs gaap Image
  • 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.

  • disc ops Image
  • 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.

  • equity method jv Image
  • 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.

  • mfs-2021 Image
  • 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.

  • 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.