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  • Multilateral Development Banks confirm support for work of the ISSB at COP28

    30 Nov 2023

    At COP 28, currently held in Dubai, United Arab Emirates, the Asian Infrastructure Investment Bank, the European Investment Bank, the Inter-American Development Bank and the European Bank for Reconstruction and Development have confirmed their support for the work of the International Sustainability Standards Board (ISSB).

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  • IASB publishes proposed amendments regarding financial instruments with characteristics of equity

    29 Nov 2023

    The International Accounting Standards Board (IASB) has published an exposure draft IASB/ED/2023/5 'Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1)'. It contains proposed amendments that aim at clarifying the classification requirements in IAS 32 'Financial Instruments:Presentation', including their underlying principles, to address known practice issues that arise in applying IAS 32. Comments are requested by 29 March 2024.

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  • IASB Research Forum 2023 Highlights

    22 Nov 2023

    On 2–4 November 2023, the IASB in collaboration with the European Accounting Association held a research forum which discussed the accounting for intangible assets.

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  • November 2023 ISSB meeting notes posted

    21 Nov 2023

    The ISSB met in Beijing on 15–16 November 2023. We have posted our comprehensive Deloitte observer notes for the projects discussed during the meeting.

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  • November 2023 IASB meeting notes posted

    21 Nov 2023

    The IASB met in London from 13-15 November 2023. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • Academic study on the costs and benefits of IFRS 15 adoption

    29 Nov 2023

    The European Financial Reporting Advisory Group (EFRAG) has published the results of academic study on the effects of the adoption of IFRS 15 'Revenue from Contracts with Customers' on preparers and users of financial statements.

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  • Summary of the October 2023 CMAC meeting

    27 Nov 2023

    Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 19 October 2023. Notes from the meeting have now been released.

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  • Report on the autumn 2023 IFASS meeting

    21 Nov 2023

    A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.

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  • Second EBA report on IFRS 9 implementation

    19 Nov 2023

    The European Banking Authority (EBA) has published a second report summarising the findings arising from the monitoring activities on the IFRS 9 implementation by EU institutions.

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  • On the Radar — Impairments and disposals of long-lived assets and discontinued operations (November 2023)

    published 27 Nov 2023

    Long-lived assets within the scope of ASC 360-10 are accounted for and tested for impairment differently depending on the entity’s intent regarding the assets. Long-lived assets that the entity intends to hold and use in its operations, including long-lived assets that the entity intends to abandon, distribute to owners, or exchange in a nonmonetary transaction accounted for at carrying amount, are tested for impairment when a triggering event occurs by performing a two-step recoverability test. By contrast, long-lived assets that the entity intends to sell are tested for impairment upon classification as held for sale and in each subsequent reporting period by comparing their carrying amount with their fair value less costs to sell.

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  • Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations (2023)

    published 27 Nov 2023

    This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20. ASC 360-10 specifies the accounting and reporting for long-lived assets that are being held and used by an entity and for long-lived assets that the entity intends to sell or otherwise dispose of. ASC 205-20 further provides guidance on when a component, or group of components, of an entity that is classified as held for sale or disposed of must be reported as a discontinued operation. The 2023 edition of this publication includes updated and expanded guidance on these topics.

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  • On the Radar — Hedge accounting

    published 22 Nov 2023

    This publication briefly summarizes key financial reporting considerations related to the accounting for hedges, including the type of hedge and the qualifications for applying hedge accounting.

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  • Roadmap: Hedge accounting

    published 22 Nov 2023

    This Roadmap provides an overview of the FASB’s authoritative guidance on hedge accounting in ASC 815 as well as our insights into and interpretations of how to apply that guidance in practice. Hedge accounting guidance is a complex aspect of GAAP developed over many years in response to constituents’ requests for interpretive guidance. This Roadmap is intended to help entities navigate that accounting and financial reporting guidance, reduce complexity, and arrive at appropriate accounting conclusions.

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  • Report on the H2 2023 IFASS meeting

    published 21 Nov 2023

    Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.

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