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  • Pre-meeting summaries for the July IASB meeting

    19 Jul 2019

    The IASB is meeting on Monday 22, Wednesday 24 and Thursday 25 July 2019. On Tuesday 23 July the IASB and US FASB will meet together in public. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed, we summarise 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.

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    EFRAG (European Financial Reporting Advisory Group) (dk green) Image

  • European Lab consults on future projects

    18 Jul 2019

    The European Financial Reporting Advisory Group (EFRAG) has published a consutlation document to start planning for the next projects of the European Corporate Reporting Lab.

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    OIC (Italy Organismo Italiano di Contabilità) (lt blue) Image

  • AcSB and OIC hold joint meeting

    18 Jul 2019

    On 15 July 2019, the Canadian Accounting Standards Board (AcSB) and the Italian standard-setter Organismo Italiano di Contabilità (OIC) held a joint meeting in Rome. The meeting was the second bilateral meeting between the two standard-setters.

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  • IASB publishes proposed amendments to IAS 12

    17 Jul 2019

    The International Accounting Standards Board (IASB) has published an exposure draft 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)' that aim at clarifying how companies account for deferred tax on leases and decommissioning obligations. Comments are requested by 14 November 2019.

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  • ESMA publishes 23rd enforcement decisions report

    16 Jul 2019

    The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IFRS 10/IAS 7, IAS 7, IFRS 10/IFRS 12/IFRS 13/IAS 1, IFRS 9, IAS 40, IFRS 2, and IAS 34/IAS 36.

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  • IASB will hold additional meeting in August

    15 Jul 2019

    The IASB, which normally does not meet in August, will hold an additional meeting on 28 August to discuss feedback received on ED/2019/1 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)'.

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  • IFRS in Focus — IASB proposes amendments to IAS 12 'Income Taxes'

    published 19 Jul 2019

    This IFRS in Focus addresses the proposed amendments to IAS 12 'Income Taxes' set out in Exposure Draft ED/2019/5 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)' that has been published by the International Accounting Standards Board (IASB) in July 2019.

  • Lease modifications – ten comprehensive examples Image

  • Lease modifications – ten comprehensive examples

    published 15 Jul 2019

    This publication from Deloitte Hong Kong runs through some of the accounting for lease modifications with a series of ten scenarios that build on the various permutations of lease modifications in a logical manner, explaining the principles and concepts while providing easy to follow numeric examples.

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  • IFRS on Point — June 2019

    published 11 Jul 2019

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

  • A Roadmap to Foreign Currency Transactions and Translations (2019) Image

  • A Roadmap to Foreign Currency Transactions and Translations (2019)

    published 08 Jul 2019

    This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under ASC 830 and IFRS® Standards (in Chapter 10). This update reflects guidance that is effective for annual reporting periods beginning on or after January 1, 2019.

  • A Roadmap to Distinguishing Liabilities From Equity (2019) Image

  • A Roadmap to Distinguishing Liabilities From Equity (2019)

    published 02 Jul 2019

    This Roadmap provides an overview of the guidance in ASC 480-10 as well as insights into and interpretations of how to apply it in practice. ASC 480-10 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. Appendix G of the Roadmap highlights new content in the 2019 edition as well as substantive revisions to previous text.

  • Heads Up — No free passes: How the new current expected credit loss standard affects nonbanks Image

  • Heads Up — No free passes: How the new current expected credit loss standard affects nonbanks

    published 01 Jul 2019

    This Heads Up discusses key considerations for nonbanks as they contemplate adoption of FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU adds to U.S. GAAP an impairment model (known as the current expected credit loss (CECL) model) that is based on expected losses rather than incurred losses. Although the new CECL standard has a greater impact on banks, most nonbanks have financial instruments that are subject to it, and many of those nonbanks may not have started evaluating its effect even though its effective date is quickly approaching.

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    • IASB Meeting — 22–25 July 2019

      Start: 22 Jul 2019 - End: 25 Jul 2019

      On 23 June the IASB and the US FASB will hold a joint education meeting. The IASB will meet on 22 July and 24–25 July.

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