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Membership for European Lab Project Task Force on climate-related reporting, programme for the EFRAG conference on innovation in corporate reporting
15 Feb 2019
The European Financial Reporting Advisory Group (EFRAG) has announced that the European Lab Steering Group has appointed the members of the Project Task Force on climate-related reporting. The European Lab's activities will beginn with a conference on 'Fostering Innovation in Corporate Reporting' on 5 March 2019. The full programme for this conference is now available.
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Report on intangibles and the R&D capitalisation debate
15 Feb 2019
Many have noted the increasing gap between the values of companies based on their share price and the tangible asset values in their financial statements. One of the major components of this gap are the ‘intangibles’ that are recognised as valuable by the market but are not recognised as assets by financial reporting.
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IASB posts webcast on IFRS 15
14 Feb 2019
The IASB has posted a webcast, by IASB member Nick Anderson and investor engagement member Sid Kumar, that provides an overview on IFRS 15, ‘Revenue from Contracts with Customers’.
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February 2019 IASB meeting notes posted
13 Feb 2019
The IASB met on Thursday 7 and Friday 8 February 2019 to discuss five topics. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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Summary of the November 2018 GPF meeting
13 Feb 2019
Representatives of the IASB met with the Global Preparers Forum (GPF) in London on 6 November 2018. Notes from the meeting have now been released.
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Recent sustainability and integrated reporting developments
12 Feb 2019
A summary of recent developments at GRI, IOSCO, WBCSD/CDSB, IIRC, the UK Government, the Carbon Trust, and XBRL International.
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Updated IASB work plan — Analysis
11 Feb 2019
Following the IASB's February 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 January.
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AcSB updates research on extractive industries
11 Feb 2019
In 2018, the IASB started gathering evidence to help it decide whether to start a project to develop proposals to replace IFRS 6 'Exploration for and Evaluation of Mineral Resources'. Before deciding the scope and direction of a research project, the IASB asked the national standard-setters who contributed to the 2010 discussion paper on extractive activities to make the IASB aware of any new developments.
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Applicants invited for IFRS Interpretations Committee membership
08 Feb 2019
The Trustees of the IFRS Foundation have invited applications for candidates to fill four vacancies on the International IFRS Interpretations Committee for terms that will expire on 30 June 2019.
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IASB member discusses returns, reinvestment opportunities and dividend distribution
08 Feb 2019
IASB member Nick Anderson has issued an article discussing corporate performance and how investors seek to understand the quality of the profit number, not just the amount of earnings.
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The capitalisation debate: R&D expenditure, disclosure content and quantity, and stakeholder views
published 15 Feb 2019
This report provides comprehensive evidence of the current state of accounting for research and developments (R&D) by IFRS reporters and some of the factors that may lie behind it.
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A Roadmap to Applying the New Leasing Standard (2019)
published 14 Feb 2019
This Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through the February 13, 2019, FASB meeting). We hope that this publication will enable entities to deal with some of the more challenging aspects of ASC 842.
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Aerospace & Defense Spotlight — Key differences between ASC 605-35 (formerly SOP 81-1) and ASC 606
published 13 Feb 2019
This Aerospace & Defense Spotlight, which updates Deloitte’s September 2014 Aerospace & Defense Spotlight, highlights key accounting issues and potential challenges for aerospace and defense (A&D) entities related to the transition to ASC 606.
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IFRS model financial statements 2018 — Appendix 2: Early adoption of IFRS 16 'Leases'
published 12 Feb 2019
This Appendix has been produced to complement the 'International GAAP Holdings Limited Model financial statements for the year ended 31 December 2018'. It focuses on the changes introduced by the requirements in IFRS 16 Leases which is effective for annual periods beginning on or after 1 January 2019 (earlier application is permitted if disclosed and if IFRS 15 Revenue from Contracts with Customers is also applied).
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Heads Up — FASB proposes to ease transition to the credit losses standard
published 11 Feb 2019
This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), "Targeted Transition Relief for Topic 326, Financial Instruments — Credit Losses." The proposed ASU would allow entities to irrevocably elect, upon adoption of ASU 2016-13, Measurement of Credit Losses on Financial Instruments, the fair value option for financial instruments that were previously recorded at amortized cost (except for held-to-maturity debt securities) and that are within the scope of FASB Accounting Standards Codification (ASC) Subtopic 326-20, "Financial Instruments — Credit Losses: Measured at Amortized Cost," provided that the instruments are eligible for the fair value option under ASC 825-10, "Financial Instruments: Overall."
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IFRS on Point — January 2019
published 11 Feb 2019
'IFRS on Point', published at the beginning of each month, highlights critical IFRS-related financial reporting developments.
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EFRAG endorsement status report 11 February 2019
published 11 Feb 2019
The endorsement status report has been updated to reflect that the European Union has formally adopted 'Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28)'.
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International GAAP Bank Limited — Illustrative disclosures under IFRS 7 as amended by IFRS 9
published 07 Feb 2019
These financial statements illustrate the presentation and disclosure requirements of a bank that is not a first-time adopter of IFRSs that is applying IFRS 9 'Financial Instruments' and so reflects the updated disclosure requirements of IFRS 7 'Financial Instruments — Disclosure'.
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A Comparison of IFRS Standards and U.S. GAAP: Bridging the Differences
published 04 Feb 2019
This publication discusses differences that are commonly found in practice between the International Accounting Standards Board’s IFRS® Standards and the FASB’s U.S. GAAP. The significance of these differences to a given entity will vary depending on such factors as the nature of its operations, the industry in which it operates, and the accounting policy choices it has made.
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Deloitte e-learning — IAS 23
published 29 Jan 2019
This Deloitte e-learning module provides training in the background, scope and principles under IAS 23 'Borrowing Costs', and the application of this Standard. Topics covered include the qualifying asset concept, the period over which borrowing costs can be capitalised, borrowing costs eligible for capitalisation, and the amount of borrowing costs capitalised.
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IASB Meeting — 7-8 February 2019
Start: 07 Feb 2019 - End: 08 Feb 2019
The IASB will meet in London on 7-8 February 2019.
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IASB Meeting — 23 January 2019
Start: 23 Jan 2019 - End: 23 Jan 2019
The IASB met in London on 23 January 2019.
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IFRS Interpretations Committee meeting — 16 January 2019
Start: 16 Jan 2019 - End: 16 Jan 2019
The IFRS Interpretations Committee met by video conference call on 16 January 2019 to discuss four issues, all of them agenda decisions to finalise.
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IASB Meeting — 11–13 December 2018
Start: 11 Dec 2018 - End: 13 Dec 2018
The IASB met in London on 11–13 December 2018 to discuss twelve topics.
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IFRS Interpretations Committee meeting — 27 November 2018
Start: 27 Nov 2018 - End: 27 Nov 2018
The IFRS Interpretations Committee met in London on 27 November 2018 to discuss seven issues, including five new interpretation requests.
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IASB Meeting — 14 and 15 November 2018
Start: 14 Nov 2018 - End: 15 Nov 2018
The IASB met in London on 14-15 November 2018 to discuss seven topics.
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IASB Meeting — 24 and 25 October 2018
Start: 24 Oct 2018 - End: 25 Oct 2018
The IASB met in London on 24 and 25 October 2018 to discuss eight topics.
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IASB Meeting — 19–20 September 2018
Start: 19 Sep 2018 - End: 20 Sep 2018
The IASB met in London on Wednesday 19 and Thursday 20 September 2018 to discuss seven topics.
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IFRS Interpretations Committee meeting — 11–12 September 2018
Start: 11 Sep 2018 - End: 12 Sep 2018
The IFRS Interpretations Committee met in London on 11 and 12 September 2018 to discuss thirteen issues, including five new interpretation requests.
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IASB Meeting — 17–18 July 2018
Start: 17 Jul 2018 - End: 18 Jul 2018
The IASB met in London on 17–18 July 2018 to discuss nine topics.