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August 2018

IASB releases fifth webcast on FICE DP

Aug 13, 2018

On August 13, 2018, the International Accounting Standards Board (the Board) released its fifth webcast in a series of web presentations related to Discussion Paper, “Financial Instruments With Characteristics of Equity.”

This webcast discusses the Board’s preferred approach to presenting equity instruments.

The next and final webcast in the series will cover the pre­sen­ta­tion of financial li­a­bil­i­ties.

For more in­for­ma­tion, see the press release on the Board’s website.

IPSASB publishes guidance on financial instruments

Aug 14, 2018

On August 14, 2018, the International Public Sector Accounting Standards Board (IPSASB) released IPSAS 41 "Financial Instruments".

IPSAS 41 replaces IPSAS 29 Financial Instruments: Recognition and Measurement, and introduces:

  • Simplified classification and measurement requirements for financial assets;
  • A forward-looking impairment model; and
  • A flexible hedge accounting model.

IPSAS 41 includes public sector-specific guidance and illustrative examples on: (1) financial guarantees issued through non-exchange transactions; (2) concessionary loans; (3) equity instruments arising from non-exchange transactions; and (4) fair value measurement.

Review the press release, IPSAS 41, and At-a-Glance summary on the IPSASB's website.

SEC Amendments to the Smaller Reporting Company Definition

Aug 10, 2018

On August 10, 2018, the Securities and Exchange Commission (SEC) released the guide "A Small Entity Compliance Guide for Issuers".

On June 28, 2018, the SEC adopted amendments that raise the thresholds in the smaller reporting company (“SRC”) definition, thereby expanding the number of smaller companies eligible to comply with the scaled disclosure requirements in several Regulation S-K and Regulation S-X items. The amendments to the SRC definition and other amendments are effective on September 10, 2018.

Under the new SRC definition, a company with less than $250 million of public float will be eligible to provide scaled disclosures. Companies with less than $100 million in annual revenues and either no public float or a public float that is less than $700 million will also be eligible to provide scaled disclosures.

Review the guide on the SEC's website.

Video – Linda Mezon launches the Draft Framework for Reporting Performance Measures

Aug 15, 2018

On August 15, 2018, the Accounting Standards Board (AcSB) released a video on the AcSB’s Draft Framework for Reporting Performance Measures was released.

Watch this video to hear Linda Mezon’s presentation that launched this initiative, which took place at the 2018 FEI Canada Annual Conference.

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