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  • IFASS (International Forum of Accounting Standard Setters) (dark green) Image

  • Report on the spring 2019 IFASS meeting

    23 May 2019

    A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in Buenos Aires on 28 and 29 March 2019.

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  • Micro-entities accounting option in Europe

    22 May 2019

    The European Federation of Accountants and Auditors for SMEs (EFAA) has published the results of a survey on the acceptance of the micro-entities accounting option in Europe, which was introduced to ease the administrative burden on very small companies.

  • IASB (International Accounting Standards Board) (blue) Image

  • Updated IASB work plan — Analysis

    18 May 2019

    Following the IASB's May 2019 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in April. Changes are few, however, not all known developments are reflected in the work plan yet.

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  • May 2019 IASB meeting notes posted

    17 May 2019

    The IASB met in London on 14–16 May 2019. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • h1-2019-ifass Image

  • Report on the H1 2019 IFASS meeting

    published 23 May 2019

    Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in Buenos Aires on 28 and 29 March 2019.

  • aip-2018-2020 Image

  • IFRS in Focus — IASB publishes proposals for amendments under its 'Annual Improvements' process

    published 22 May 2019

    This 'IFRS in Focus' newsletter explains the recently proposed amendments to IFRS 1 'First-time Adoption of International Financial Reporting Standards', IFRS 9 'Financial Instruments', the illustrative examples accompanying IFRS 16 'Leases', and IAS 41 'Agriculture' that were published by the IASB on 21 May 2019 as result of its annual improvements project 2018-2020.

  • Lease modifications Image

  • Lease modifications – extending the lease term

    published 21 May 2019

    This publication from Deloitte Hong Kong focuses on the extension of a lease. Specifically, it addresses the following issues: 1) What constitutes a lease modification? 2) When should a lease modification be accounted for? 3) What is the impact of a lease modification on the lease term? 4) How do the modification requirements interact with transition reliefs?

  • Heads Up — FASB issues targeted transition relief for entities adopting ASU 2016-13 Image

  • Heads Up — FASB issues targeted transition relief for entities adopting ASU 2016-13

    published 15 May 2019

    This Heads Up discusses the key provisions of the FASB’s recently issued Accounting Standards Update (ASU) No. 2019-05, "Targeted Transition Relief," which provides transition relief to entities adopting ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." The amendments in ASU 2019-05 allow entities to elect the fair value option on certain financial instruments.

  • Heads Up — SEC proposes to ease qualifications for nonaccelerated filer status Image

  • Heads Up — SEC proposes to ease qualifications for nonaccelerated filer status

    published 14 May 2019

    This Heads Up discusses the SEC’s recently issued proposed rule Amendments to the "Accelerated Filer and Large Accelerated Filer Definitions," which would revise the definitions of “accelerated filer” and “large accelerated filer” to exclude any issuer with both annual revenues of less than $100 million and public float of less than $700 million. The proposed amendments would expand the number of issuers that qualify as nonaccelerated filers and are thus eligible to take advantage of certain reporting accommodations offered to such issuers.

  • Heads Up — SEC proposes improvements to disclosures for business acquisitions and dispositions Image

  • Heads Up — SEC proposes improvements to disclosures for business acquisitions and dispositions

    published 09 May 2019

    This Heads Up discusses the SEC’s recently issued proposed rule "Amendments to Financial Disclosures About Acquired and Disposed Businesses," which would amend the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. These changes are intended to improve the information investors receive regarding acquired or disposed businesses, reduce complexity and costs of preparing the required disclosures, and facilitate timely access to capital.

  • Heads Up — FASB issues narrow financial instrument accounting updates Image

  • Heads Up — FASB issues narrow financial instrument accounting updates

    published 07 May 2019

    This Heads Up discusses the key provisions of the FASB’s recently issued Accounting Standards Update (ASU) 2019-04, which clarifies certain aspects of accounting for credit losses, hedging activities, and financial instruments. The ASU’s amendments apply to all entities within the scope of the affected guidance. Many of the amendments reflect decisions reached at FASB meetings or meetings of the Board’s credit losses transition resource group.

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