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This Clearly IFRS addresses the recent amendments to IFRS 9 Financial Instruments, IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures that have been published by the International Accounting Standards Board (IASB).
This publication explores some of the key differences between IFRS® Standards and U.S. GAAP that are effective as of January 1, 2020, for public business entities with a calendar-year annual reporting period. Although this Roadmap does not capture all the differences that exist between the two sets of standards, it focuses on differences that are commonly found in practice.
This publication contains extracts of frequently issued SEC staff comments, analysis of those extracts, and links to resources that are relevant to SEC filers. Other features include (1) an update on the SEC’s priorities; (2) a summary of comment letter trends related to the top 10 topics of frequent comment in the 12-month period ended July 31, 2019; and (3) topics of focus related to disclosures associated with financial statement accounting, SEC reporting, initial public offerings, foreign private issuers, and industry-specific matters. Appendix F of the Roadmap summarizes the changes made in the 2019 edition.
This Clearly IFRS addresses the proposed amendments to IAS 1 'Presentation of Financial Statements' and IFRS Practice Statement 2 'Making Materiality Judgements' set out in Exposure Draft ED/2019/6 'Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2)' published by the International Accounting Standards Board in August 2019.
This Heads Up discusses the critical audit matters (CAMs) that were communicated in auditors’ reports for all large accelerated filers with fiscal years ending June 30, 2019. The CAMs most often identified were related to goodwill and intangible assets, revenue, and income taxes.
This Clearly IFRS addresses the proposed amendments to IFRS 17 'Insurance Contracts' set out in Exposure Draft ED/2019/4 'Amendments to IFRS 17' (the ‘ED’) that has been published by the International Accounting Standards Board (IASB) in June 2019.
We are pleased to present the second edition of A Roadmap to Initial Public Offerings. This Roadmap addresses financial reporting, accounting, and auditing considerations to help companies navigate challenges related to preparing an IPO registration statement and ultimately going public.
This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU) that would simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The proposed ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP.
This Heads Up discusses the SEC staff’s recently issued statement on the expected discontinuation of the use of the London Interbank Offered Rate (LIBOR) as a benchmark or reference rate in contracts such as derivatives and how the transition from LIBOR may significantly affect financial markets and market participants (including public companies, investment companies and advisers, and broker-dealers).
This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under the new revenue standard as codified in ASC 606, ASC 340-40, and ASC 610-20. The 2019 edition contains new interpretations and guidance that reflect developments in practice and activities of the FASB, SEC, and AICPA since publication of the 2018 edition.
In its latest economic outlook, More than meets the eye, Deloitte Economic Advisory examines the latest market trends, political tensions, and risks that are affecting sentiment and global growth forecasts. While anxiety is present due to the escalation of downside risks and unpredictable trade and political disputes, the negative market sentiment appears excessive and does not fully agree with economic data.
This IFRS in Focus addresses the proposed amendments to IAS 12, Income Taxes set out in Exposure Draft ED/2019/5 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)” that has been published by the International Accounting Standards Board (IASB) in July 2019.
