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  • IASB meeting (blue) Image
  • December 2017 IASB meeting notes posted

    15 Dec 2017

    The IASB met at its offices in London on 13 and 14 December 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • SMEIG issues guidance on IFRS for SMEs Standard

    14 Dec 2017

    The SME Implementation Group (SMEIG) has issued Q&A guidance on financial guarantee contracts. The guidance aims to support entities during the implementation of the IFRS for SMEs Standard.

  • FRC (United Kingdom Financial Reporting Council) Image
  • FRC Lab report notes digital future of corporate reporting

    13 Dec 2017

    A new report from the Financial Reporting Lab of the UK Financial Reporting Council (FRC) concludes that XBRL (eXtensible Business Reporting Language) is an important technology in the path to digitisation of company reporting.

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  • IASB concludes the 2015-2017 annual improvements cycle

    12 Dec 2017

    The IASB has issued 'Annual Improvements to IFRS Standards 2015–2017 Cycle'. The pronouncement contains amendments to four International Financial Reporting Standards (IFRSs) as result of the IASB's annual improvements project.

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  • EFRAG TEG appointments and reappointments

    11 Dec 2017

    The Board of the European Financial Reporting Advisory Group (EFRAG) has announced the appointment of Emmanuelle Guyomard and Jed Wrigley to its Technical Experts Group (TEG).

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  • ANC Research Forum - Live broadcast and papers

    11 Dec 2017

    The Autorité des Normes Comptables (ANC), the French standard setter, will host its 7th Symposium on Accounting Research today. The event will be broadcast live and the policy papers can be downloded from the ANC website.

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  • EFRAG endorsement status report 15 December 2017

    published 15 Dec 2017

    The endorsement status report has been updated to reflect that the IASB has issued 'Annual Improvements to IFRS Standards 2015-2017 Cycle' and that EFRAG has published draft endorsement advice on 'Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28)'.

  • A roadmap to accounting for income taxes (2017 edition) Image
  • A roadmap to accounting for income taxes (2017 edition)

    published 14 Dec 2017

    This Roadmap provides Deloitte’s insights into and interpretations of the income tax accounting guidance in ASC 740 and IFRSs. Throughout the Roadmap, new guidance has been added, examples related to some of the guidance included in the previous edition have been added or substantively revised, and minor edits have been made to existing guidance to improve its clarity. This edition does not include updates related to tax reform legislation that was recently proposed by Congress but had not been enacted before this edition was published. If a final bill is enacted, updated guidance addressing the impact of the legislation’s provisions on the accounting for income taxes under ASC 740 will be included in a subsequent edition.

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  • IFRS on Point — November 2017

    published 08 Dec 2017

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

  • A roadmap to accounting for contracts on an entity’s own equity (2017) Image
  • A roadmap to accounting for contracts on an entity’s own equity (2017)

    published 07 Dec 2017

    The 2017 edition of A Roadmap to Accounting for Contracts on an Entity’s Own Equity provides an overview of the guidance in ASC 815-40 as well as insights into and interpretations of how to apply it in practice. For ease of reference, we have accompanied our discussion with the related authoritative text. This edition reflects changes to the guidance introduced by the FASB’s issuance of ASU 2017-11 in July 2017.

  • IFRS fokussiert - Prüfungsschwerpunkte der DPR 2018 Image
  • IFRS fokussiert - Prüfungsschwerpunkte der DPR 2018

    published 07 Dec 2017

    This German-language newsletter explains the enforcement priorities of the German Financial Reporting Enforcement Panel (FREP) for 2017 financial statements, which comprise the common enforcement priorities of the European Securities and Markets Authority (ESMA) and supplementing FREP priorities.

  • A Closer Look — Impact of transition from IAS 39 to IFRS 9 on the exchange of modification of financial liabilities Image
  • A Closer Look — Impact of transition from IAS 39 to IFRS 9 on the exchange of modification of financial liabilities

    published 06 Dec 2017

    The accounting for certain modifications and exchanges of financial liabilities measured at amortised cost (e.g. bank loans and issued bonds) will change on transition from IAS 39 Financial Instruments: Recognition and Measurement to IFRS 9 Financial Instruments. This change arises from a clarification by the IASB in the Basis for Conclusions of the amendments to IFRS 9 Prepayment Features with Negative Compensation issued on 12 October 2017. The IFRS 9 accounting treatment is applicable from 1 January 2018 (the effective date of IFRS 9, or earlier if IFRS 9 is adopted early) and will need to be applied retrospectively to all affected financial liabilities that continue to be recognised on transition from IAS 39. This will result in a transition adjustment and a change to the effective interest rate for the financial liabilities affected.

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