Dec 11, 2020
This publication focuses on some of the most common and significant differences that may affect financial statements when converting from U.S. GAAP to IFRS Standards and vice versa.
Nov 30, 2020
The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to insurance entities. The most notable standard-setting development for insurers in 2020 was the FASB’s decision to defer the effective date of ASU 2018-12 for all insurance entities by one year and to amend the ASU’s early application provisions.
Nov 23, 2020
The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to real estate entities. Developments in 2020 include the FASB’s issuance of an ASU that allows companies to defer adoption of the Board’s new standards on revenue recognition (ASC 606) and leasing (ASC 842) in light of the coronavirus disease 2019 pandemic. This publication also discusses additional SEC reporting implications for real estate entities related to the guidance in ASC 842 as well as the guidance on income taxes (ASC 740), consolidation (ASC 810), and other topics.
Nov 20, 2020
This updated Roadmap explores some of the key differences between IFRS® Standards and U.S. GAAP effective as of January 1, 2021, for public business entities that have 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.
Nov 06, 2020
The standard setters made limited changes to accounting and financial reporting guidance in 2020, so industry participants focused mainly on adopting or preparing to adopt the major standards issued previously by the FASB. Developments in 2020 include the standard setters’ continued work on issues related to the implementation of several standards.
Nov 04, 2020
This publication addresses the amendments to IFRS 9 Financial Instruments, IAS 39 Financial Instruments: Recognition and Measurement, IFRS 7 Financial Instruments: Disclosures, IFRS 4 Insurance Contracts and IFRS 16 Leases that have been published by the International Accounting Standards Board (Board). The amendments are titled Interest Rate Benchmark Reform—Phase 2 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16).
Nov 03, 2020
This Heads Up discusses the growing market movement toward enhanced human capital management disclosure as a result of both the SEC’s final rule that amended Regulation S-K and gathering momentum in the marketplace toward more standardized and relevant environmental, social, and governance (ESG) disclosures, including human capital metrics. The publication also provides questions for companies to consider related to identifying and evaluating human capital disclosures in light of the amendments to Regulation S-K.
Oct 02, 2020
This Financial Reporting Alert discusses the accounting and SEC reporting considerations related to special-purpose acquisition company (SPAC) initial public offerings. After a SPAC merges with a private operating company (the “target”), the target’s financial statements become those of the combined public company. Therefore, a target will need to devote a considerable amount of time and resources to technical accounting and reporting matters.
Aug 25, 2020
This publication discusses the amendment to IAS 1 Presentation of Financial Statements titled Classification of Liabilities as Current or Non-current—Deferral of Effective Date published by the International Accounting Standards Board (Board) in July 2020.
Jun 11, 2020
This Clearly IFRS addresses the recent package of narrow-scope amendments to IFRS Standards that has been published by the International Accounting Standards Board (IASB).
Jun 03, 2020
The FASB issued ASU 2020-05, which amends the effective dates of the Board’s standards on revenue (ASC 6062) and leasing (ASC 8423) to give immediate relief to certain entities as a result of the widespread adverse economic effects and business disruptions caused by the coronavirus disease 2019 (COVID-19) pandemic. Specifically, the Board deferred the effective dates of (1) ASC 606 for private companies and private not-for-profit (NFP) entities and (2) ASC 842 for private companies, private NFP entities, and public NFP entities.
May 12, 2020
This Clearly IFRS discusses the proposed amendment to IAS 1 Presentation of Financial Statements set out in Exposure Draft ED/2020/3 Classification of Liabilities as Current or Non-current—Deferral of Effective Date (the ‘ED’) published by the International Accounting Standards Board (IASB) in May 2020.
These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.