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The #1 website for global accounting news
  • IIRC (International Integrated Reporting Committee) (green) Image
  • IIRC launches a new <IR> Academic Database

    14 Aug 2018

    The International Integrated Reporting Council (IIRC) has launched a new <IR> Academic Database. The database highlights potential positive benefits of adopting integrated reporting (<IR> and emerging best practice based on academic studies.

  • IASB webcast Image
  • IASB releases fifth FICE DP webast

    13 Aug 2018

    The IASB has released its fifth webcast in a series of web presentations related to Discussion Paper, “Financial Instruments With Characteristics of Equity.”

  • IFRS Foundation (blue) Image
  • IFRS Foundation moves London office

    07 Aug 2018

    The IFRS Foundation has relocated its offices within London. The new address for the IFRS Foundation — including the IASB — is 7 Westferry Circus, Canary Wharf, London. All email addresses and phone numbers will remain the same.

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • EFRAG seeks TEG Chairman and CEO

    02 Aug 2018

    The European Financial Reporting Advisory Group (EFRAG) is searching for candidates to fill the position of Chairman and CEO for its Technical Expert Group (TEG). Current Chairman and CEO, Andrew Watchman, is not eligible for reappointment due to his UK nationality.

  • IASB podcast (blue) Image
  • IASB issues podcast on latest Board developments

    31 Jul 2018

    The IASB has released a podcast featuring Chair Hans Hoogervorst, Vice-Chair Sue Lloyd, and education director Matt Tilling to discuss the deliberations at the July 2018 IASB meeting.

  • IASB webcast Image
  • IASB releases additional FICE DP webcasts

    30 Jul 2018

    The IASB has released two additional webcast in a series of web presentations related to Discussion Paper, ‘Financial Instruments With Characteristics of Equity’.

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  • IFRS on Point — July 2018 Image
  • IFRS on Point — July 2018

    published 13 Aug 2018

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

  • IFRS model financial statements 2017 — Appendix 1: Early adoption of IFRS 16 'Leases' Image
  • IFRS model financial statements 2017 — Appendix 1: Early adoption of IFRS 16 'Leases'

    published 10 Aug 2018

    This Appendix has been produced to complement the 'International GAAP Holdings Limited' Model financial statements for the year ended 31 December 2017. 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).

  • Heads Up — FASB makes targeted improvements to ASC 842 Image
  • Heads Up — FASB re-leases targeted improvements to ASC 842

    published 07 Aug 2018

    This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2018-11, "Targeted Improvements to ASC 842, Leases," which provides entities with relief from the costs of implementing certain aspects of the new leasing standard, ASC 842. Specifically, under the amendments in ASU 2018-11, (1) entities may elect not to recast the comparative periods presented when transitioning to ASC 842 and (2) lessors may elect not to separate lease and nonlease components when certain conditions are met.

  • IAS 34 compliance checklist 2018 Image
  • IAS 34 compliance checklist 2018

    published 03 Aug 2018

    The checklist summarises the requirements of IAS 34 'Interim Financial Reporting', formatted to allow the recording of a review of interim financial statements, with a place to indicate yes, no, or not-applicable for each item. The checklist addresses the requirements of IAS 34 as of 30 April 2018.

  • Deloitte comment letter on the IASB's proposed changes to accounting policies  Image
  • Deloitte comment letter on the IASB's proposed changes to accounting policies

    published 02 Aug 2018

    We do not support the proposals in the exposure draft as they do not address the root cause of these issues, being the tension between the status of agenda decisions per the IFRS Foundation’s Due Process Handbook (“helpful, informative and persuasive”) and their status in practice (with most securities regulators taking a position, whether publically or otherwise, that an accounting policy which conflicts with an agenda decision is, de facto, no longer acceptable).

  • Financial Reporting Alert 18-10 — Adoption of ASU 2018-07 in an interim period Image
  • Financial Reporting Alert 18-10 — Adoption of ASU 2018-07 in an interim period

    published 01 Aug 2018

    This Financial Reporting Alert addresses the questions that have arisen about how entities that have early adopted ASU 2018-07, "Improvements to Nonemployee Share-Based Payment Accounting," in an interim period can determine the adoption date for the calculation of the transition adjustments. We believe that there is more than one acceptable approach to making such a determination. This alert focuses on two illustrative approaches and includes sample journal entries for each one.

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