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All you need on UK Accounting, Reporting & Corporate Governance
  • IASB meeting (blue) Image
  • Pre-meeting summaries for the July IASB meeting

    19 Jul 2019

    The IASB is meeting on Monday 22, Wednesday 24 and Thursday 25 July 2019. On Tuesday 23 July the IASB and US FASB will meet together in public. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed, we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

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    EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • European Lab consults on future projects

    18 Jul 2019

    The European Financial Reporting Advisory Group (EFRAG) has published a consutlation document to start planning for the next projects of the European Corporate Reporting Lab.

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  • IASB publishes proposed amendments to IAS 12

    17 Jul 2019

    The International Accounting Standards Board (IASB) has published an exposure draft 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)' that aim at clarifying how companies account for deferred tax on leases and decommissioning obligations. Comments are requested by 14 November 2019.

  • ESMA (European Securities and Markets Authority) (dark gray) Image
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  • ESMA publishes 23rd enforcement decisions report

    16 Jul 2019

    The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IFRS 10/IAS 7, IAS 7, IFRS 10/IFRS 12/IFRS 13/IAS 1, IFRS 9, IAS 40, IFRS 2, and IAS 34/IAS 36.

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  • 2019 Update on Half Yearly Financial Reporting Image
  • 2019 Update on Half Yearly Financial Reporting

    published 12 Jul 2019

    The 2019 edition of our popular guide to half-yearly financial reporting contains a regulatory overview, setting out the requirements for half-yearly financial reports and changes for preparers to contend with in 2019, including disclosures on the impact of implementing IFRS 16 Leases, a model half-yearly financial report, including illustrative IAS 34 condensed financial statements; and a disclosure checklist.

  • Accounting Roundup — July 2019 Image
  • Accounting Roundup — July 2019

    published 11 Jul 2019

    This accounting roundup, covering the period May 2019 through to June 2019, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

  • IFRS on Point — June 2019  Image
  • IFRS on Point — June 2019

    published 11 Jul 2019

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

  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent Image
  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent

    published 25 Jun 2019

    In April 2016, the IASB issued Clarifications to IFRS 15 which amended the principal-versus-agent implementation guidance and illustrations in IFRS 15 to clarify how the principal-versus-agent indicators should be evaluated to support an entity’s conclusion that it controls a specified good or service before it is transferred to a customer. However, given the complexities of some arrangements, including those involving three or more parties, the evaluation of whether an entity is acting as a principal or as an agent continues to require significant judgement, and conclusions reached under IAS 18 may not be the same as those reached under IFRS 15.

  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform Image
  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform

    published 17 Jun 2019

    We support the IASB’s response in proposing amendments to both IFRS 9 and IAS 39 that deal with the immediate need of addressing the effect of the uncertainty arising from changes in benchmark interest rates on the “highly probable” requirement for cash flow hedges and the designated risk for cash flow and fair value hedges and suggest the IASB work on finalizing these amendments and begin the work on its second phase of amendments concurrently.

  • IFRS on Point — May 2019 Image
  • IFRS on Point — May 2019

    published 12 Jun 2019

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

  • On the board agenda — half year 2019  Image
  • On the board agenda — half year 2019

    published 05 Jun 2019

    Before you break for the summer, this briefing is designed as an update to help you establish the agenda for the rest of 2019. This review for boards and committees covers interim and year-end reporting, emerging themes, as well as an update on areas of regulatory focus. There is much to get to grips with which will benefit from forward planning. To assist we have provided a summary checklist for your agenda.

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