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Model IFRS financial statements for 2009 in German

22 Jan 2010

Deloitte (Germany) has published IFRS Musterkonzernabschluss Dezember 2009 — Model IFRS Financial Statements for 2009 in the German language.

Each item in the financial statements is cross-referenced to the relevant source in IFRSs. There are permanent links on our member firm publication page for Germany.

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Notes from January 2010 IASB meeting day 4

22 Jan 2010

The IASB is holding its January 2010 monthly Board meeting at its offices in London on Monday to Thursday, 18-21 January 2010. The sessions on Monday, Tuesday, and Wednesday morning are joint with the FASB.

Click here to go to the preliminary and unofficial notes taken by Deloitte observers at the meeting.


Newsletter on proposals for liability measurement

22 Jan 2010

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter — 'IASB refines proposals for the measurement of liabilities in IAS 37'.

On 5 January 2010, the IASB published for comment a revised exposure draft on measurement of liabilities that are within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. IAS 37 applies to liabilities not covered by other accounting standards, including liabilities to decommission assets, environmental liabilities, obligations under onerous contracts, and liabilities arising from legal disputes.

The comment deadline on the revised exposure draft is 12 April 2010. The IASB intends to replace IAS 37 in the third quarter of 2010. This IAS Plus newsletter explains the proposals in the revised ED.

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Three IFRS publications from Deloitte Poland

22 Jan 2010

We have posted on IAS Plus three IFRS publications from Deloitte Poland.

Praktyczny przewodnik po MSSF – IFRS in your Pocket in Polish

Deloitte (Poland) has published Praktyczny przewodnik po MSSF, the Polish language version of IFRSs in Your Pocket 2009. This publication is a translation into Polish of IFRSs in your Pocket 2009 including changes in Standards and Interpretations till 31 October 2009 and additionally includes comparison between IFRS and polish accounting act.

IFRS illustrative financial statements for 2009 in Polish

Deloitte (Poland) has published Wzór skonsolidowanego sprawozdania finansowego wg MSSF za rok zakonczony 31 grudnia 2009 – Model IFRS consolidated financial statements for 2009 in the Polish language. These model financial statements illustrate the accounting and disclosures required by IFRSs as endorsed by the European Union for reporting periods beginning on or after 1 January 2009. Please note that these financial statements reflect those IFRSs endorsed by the EU as of 31 October 2009. They do not reflect other IFRSs that are effective for 2009 but that were not endorsed by 31 October 2009.

IFRS presentation and disclosure checklists for 2009 in Polish

Deloitte Poland has published the Polish version of Deloitte's 2009 IFRS presentation and disclosure checklist.

Notes from January 2010 IASB meeting day 3

21 Jan 2010

The IASB is holding its January 2010 monthly Board meeting at its offices in London on Monday to Thursday, 18-21 January 2010. The sessions on Monday, Tuesday, and Wednesday morning are joint with the FASB.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the Meeting.


Heads Up on impairment of financial instruments

21 Jan 2010

The latest Heads Up mewsletter from Deloitte United States examines decisions that the FASB recently made on how entities should recognise and measure credit impairments and interest income under its proposed new model for accounting for financial instruments.

The proposed new model would affect the accounting for credit losses associated with loans and debt securities. The FASB's deliberations are part of its joint efforts with the IASB to simplify and improve the accounting for financial instruments. As was reported in the 10 November 2009 Heads Up (PDF 172k), the IASB has issued an exposure draft amortised cost and impairment that proposes radical changes to the manner in which entities recognise and measure credit impairment. Under the IASB's proposal, entities would use an 'expected-loss' approach based on their estimates of expected cash flows over the life of financial assets. The FASB is contemplating less significant changes to existing accounting requirements and plans to expose its proposed new model for comments by the end of this quarter.

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Disclosure and compliance checklists from Deloitte Canada

21 Jan 2010

Deloitte Canada has published Canadian versions of Deloitte's '2009 IFRS presentation and disclosure checklist' and '2009 IFRS compliance checklist'.

The Canadian versions differ from the global versions because they include 'consideration points' relating to key differences between Canadian GAAP and IFRSs that may be helpful for Canadian companies in assessing whether or not they meet the requirements of a specific IFRS. These considerations may also serve as a helpful reference source for Canadian companies on transition to IFRSs from Canadian GAAP.

Also, the English versions (.docm files) include a built-in macro that allows users to select standards that are not applicable to them and exclude them automatically.

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IFRS insurance accounting newsletter

20 Jan 2010

Deloitte (United Kingdom) has published the January 2010 issue of Insurance Accounting Newsletter.

This issue is titled Insurance Global GAAP in the Making and focuses on decisions made on the insurance project during the joint meetings of the FASB and the IASB in December 2009 and January 2010. An appendix presents a summary of key decisions to date. Click to download Issue 10 of the Insurance Accounting Newsletter (PDF 118k). There are permanent links all issues of the newsletter on our Insurance Accounting Newsletters directory.


Three new public sector financial instruments standards

20 Jan 2010

The International Public Sector Accounting Standards Board (IPSASB) has published three new standards that cover all aspects of the accounting for and disclosure of financial instruments: IPSAS 28 'Financial Instruments: Presentation'; IPSAS 29 'Financial Instruments: Recognition and Measurement'; and IPSAS 30 'Financial Instruments: Disclosures'.

The new standards fill a significant gap in the IPSASB literature. They are drawn primarily from IFRSs but also address a number of public sector-specific issues, including financial guarantee contracts provided for nil or nominal consideration and concessionary loans.

The standards are effective for annual financial statements covering periods beginning on or after 1 January 2013. IPSASs 28-30 may be downloaded without charge from the IPSASB section of IFAC's Publications and Resources Site ( Click for Press release (PDF 28k).


IASCF Trustees to meet 26-27 January

20 Jan 2010

The Trustees of the IASC Foundation, oversight body for the IASB, will meet on Tuesday and Wednesday, 26-27 January 2010, at the Caesar Park Hotel, Avenida Vieira Souto 460, Ipanema, Rio de Janeiro, Brasil.

The portion of the meeting on 26 January from 11:00am to 15:30pm is open to public observation. The agenda is below.

Agenda of the IASCF Trustees meeting - Public portion (26 January 2010)
  • 11:00-12:00 Second part of the Constitution Review
  • 12:00-12:45 Report of the Due Process Oversight Committee
  • 13:45-15:30 Report of the IASB Chairman


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