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The #1 website for global accounting news
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  • PIR of IFRS 13 to be substantiated by a literature review

    24 May 2017

    The IASB will launch the public phase of the post-implementation review (PIR) of IFRS 13 'Fair Value Measurement' either later this week or early next week (in "May" according to the IASB's work plan). The IASB is now also calling for applications to undertake a literature review on the effect on IFRS 13.

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  • The Bruce Column — How to ensure that finance takes you into the future

    23 May 2017

    In a wide-ranging video interview about the Finance for the Future Awards with our regular, resident, columnist, Robert Bruce, Jessica Fries, Executive Chairman of the Prince’s Accounting for Sustainability Project and Alan Stewart, one of the lead judges of the awards, and CFO at Tesco, looked at the achievements and growing value of the programme.

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    IASB (International Accounting Standards Board) (blue) Image
  • IASB announces new website

    23 May 2017

    The IFRS Foundation announces the launch of a redesigned and easier to navigate next month.

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  • European stakeholders come strongly down in favour of the current endorsement process

    22 May 2017

    On 21 March 2017, the European Commission launched a public consultation on the operation of the European Supervisory Authorities (ESAs), one of which is the European Securities and Markets Authority (ESMA). The consultation document suggested that the review of the ESAs' operation might also be used to "streamline" the endorsement process in the EU by giving ESMA an "advisory role".

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  • Agenda for the May 2017 DPOC meeting

    22 May 2017

    The Trustees of the IFRS Foundation will be meeting in Tokyo from 23 to 25 May 2017. However, only the meeting of the Due Process Oversight Committee (DPOC) on 23 May will be held in public.

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  • Updated IASB work plan — Analysis

    19 May 2017

    Following its May 2017 meeting, the IASB has updated its work plan. There were no major changes with the exception of the insurance contracts project being removed from the active projects due to the issuance of IFRS 17 yesterday.

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  • IFRS on point — April 2017

    published 23 May 2017

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

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  • IPSAS in your pocket — 2017 edition

    published 22 May 2017

    This guide summarises the provisions of all International Public Sector Accounting Standards (IPSAS), recommended practice guidelines and the conceptual framework, outstanding at 1 January 2017.

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  • EFRAG endorsement status report 18 May 2017

    published 18 May 2017

    This endorsement status report update reflects the issuance of IFRS 17 'Insurance Contracts' by the IASB on 18 May 2017. It is yet to be determined when endorsement might be expected.

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  • Deloitte e-learning — IFRS 15

    published 17 May 2017

    This Deloitte e-learning module provides training in the background, scope and principles under IFRS 15 'Revenue from Contracts with Customers', and the application of this Standard. Topics covered include the principles for the recognition of revenue to the sale of goods, services, licenses, royalties, and any variable consideration or modifications to contracts; and guidance is provided on how these principles should be applied by using the new five step revenue recognition model.

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  • Deloitte e-learning — IFRS 9 - hedge accounting

    published 17 May 2017

    This Deloitte e-learning module provides training in the background, scope and principles relating to the hedge accounting of financial instruments under IFRS 9 'Financial Instruments'.

  • Heads Up — FASB amends the scope of modification accounting for share-based payment arrangements Image
  • Heads Up — FASB amends the scope of modification accounting for share-based payment arrangements

    published 11 May 2017

    This Heads Up discusses FASB ASU 2017-09, "Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification.

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