A closer look

A closer look provides detailed analysis of particular aspects of key projects and other developments of the International Accounting Standards Board (IASB), focusing on topics of wide interest.

Related Publications

A Closer Look — Investor demand for corporate reporting in line with the Paris Agreement on climate change

25 Mar 2022

This publication is an update to 'A Closer Look' first published in December 2020 and addresses output of the November 2021 COP26 conference in Glasgow and further expressions from stakeholders of their expectations in respect of climate-related information in financial statements, examining perceived information gaps and how they might be addressed under current IFRS Accounting Standards.

A Closer Look — Software-as-a-Service arrangements — Accounting changes are the result of an era of digital transformation

24 Jun 2021

This publication discusses the main differences between on-premise and cloud models, an accounting explanation, practical implications of the IFRS Interpretations Committee agenda decisions, and other impacts to consider related to Software-as-a-Service arrangements.

A Closer Look — Special purpose acquisition companies

17 May 2021

This publication outlines some of the financial reporting issues related to Special Purpose Acquisition Companies (SPACs), an increasingly common alternative to traditional initial public offerings (IPOs) in some jurisdictions. Among other things, the publication highlights issues to consider in the classification of financial instruments issued by many SPACs and in the accounting for acquisitions of ‘target companies’ by a SPAC.

A Closer Look — Financial instrument disclosures when applying Interest Rate Benchmark Reform – Phase 1 amendments to IFRS 9 and IAS 39 and Phase 2 amendments to IFRS 9, IAS 39, IFRS 4 and IFRS 16

02 Dec 2020

This publication addresses financial instrument disclosures when applying the IBOR amendments.

A Closer Look — Investor demand for corporate reporting in line with the Paris Agreement on climate change

01 Dec 2020

This publication provides a background on the Paris Agreement and discusses what it means for assumptions to be 'Paris-aligned' as well as what requirements are highlighted by the IFRS Foundation's publication 'In Brief: IFRS Standards and climate-related disclosures' and the educational material and how might they appy in practice.

A Closer Look — Financial instruments disclosures when applying the amendments to IFRS 9 and IAS 39 on Interest Rate Benchmark Reform

19 Dec 2019

This publication provides illustrative examples related to the new disclosure requirements introduced by amendments to IFRS 7; these new disclosures are required for an entity that applies the amendments to IFRS 9 and IAS 39, 'Interest Rate Benchmark Reform'.

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

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.

A Closer Look — Measurement of expected credit losses for intercompany loan assets with no documented contractual term

09 May 2019

This publication focuses on how to assess the expected credit loss of an intercompany loan asset with no stated terms in separate financial statements.

A Closer Look — Applying the expected credit loss model to trade receivables using a provision matrix

27 Sep 2018

The first half of this publication considers the new accounting requirements for impairment of financial assets and the second half suggests a potential way of applying a provision matrix approach in practice.

A Closer Look — Impact of transition from IAS 39 to IFRS 9 on the exchange of modification of financial liabilities

06 Dec 2017

The accounting for certain modifications and exchanges of financial liabilities measured at amortised cost (e.g. bank loans and issued bonds) will change on transition from IAS 39 Financial Instruments: Recognition and Measurement to IFRS 9 Financial Instruments. This change arises from a clarification by the IASB in the Basis for Conclusions of the amendments to IFRS 9 Prepayment Features with Negative Compensation issued on 12 October 2017. The IFRS 9 accounting treatment is applicable from 1 January 2018 (the effective date of IFRS 9, or earlier if IFRS 9 is adopted early) and will need to be applied retrospectively to all affected financial liabilities that continue to be recognised on transition from IAS 39. This will result in a transition adjustment and a change to the effective interest rate for the financial liabilities affected.

A Closer Look — More opportunities to hedge account non-financial items

28 Sep 2012

This document highlights the practical effect of some of the new proposals to the current IAS 39 hedge accounting requirements, providing a series of contrasting examples.

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A closer look

Related Publications

A Closer Look — Investor demand for corporate reporting in line with the Paris Agreement on climate change

A Closer Look — Software-as-a-Service arrangements — Accounting changes are the result of an era of digital transformation

A Closer Look — Special purpose acquisition companies

A Closer Look — Financial instrument disclosures when applying Interest Rate Benchmark Reform – Phase 1 amendments to IFRS 9 and IAS 39 and Phase 2 amendments to IFRS 9, IAS 39, IFRS 4 and IFRS 16

A Closer Look — Investor demand for corporate reporting in line with the Paris Agreement on climate change

A Closer Look — Financial instruments disclosures when applying the amendments to IFRS 9 and IAS 39 on Interest Rate Benchmark Reform

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

A Closer Look — Measurement of expected credit losses for intercompany loan assets with no documented contractual term

A Closer Look — Applying the expected credit loss model to trade receivables using a provision matrix

A Closer Look — Impact of transition from IAS 39 to IFRS 9 on the exchange of modification of financial liabilities

A Closer Look — More opportunities to hedge account non-financial items

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Correction list for hyphenation