This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.
The #1 website for global accounting news
  • IASB podcast (blue) Image

  • IASB releases podcast on IFRS 17

    21 Nov 2019

    The IASB has released a podcast featuring IASB members Darrel Scott and Nick Anderson as well as technical staff member Roberta Ravelli as they discuss the developments at the November 2019 Board meeting related to the amendment IFRS 17 'Insurance Contracts'.

  • GPF meeting (mid blue) Image

  • Summary of the October 2019 GPF meeting

    19 Nov 2019

    Representatives from the International Accounting Standards Board (IASB) met with the Global Preparers Forum (GPF) in London on 8 October 2019. Notes from the meeting have now been released.

  • IASB meeting (blue) Image

  • Pre-meeting summaries for the November IASB meeting

    15 Nov 2019

    The IASB will meet in London on 19–20 November 2019 to discuss seven topics. 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.

  • Deloitte document (mid gray) Image

  • We comment on the IASB's proposed amendments to IAS 12

    14 Nov 2019

    We have responded to the IASB exposure draft ED/2019/5 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction', which was published by the IASB in July 2019 to clarify how companies account for deferred tax on leases and decommissioning obligations.

News RSS Feed  Link
 
  • Accounting Spotlight — Current expected credit losses — Complexities for commercial entities Image

  • Accounting Spotlight — Current expected credit losses — Complexities for commercial entities

    published 20 Nov 2019

    This Accounting Spotlight discusses the complexities that many commercial entities may encounter when applying the FASB’s new current expected credit loss (CECL) standard, particularly the standard’s new impairment model in ASC 326-20 (the “CECL model”). Relevant considerations for a commercial entity include (1) leveraging current processes to determine expected credit losses in a manner consistent with the CECL model, (2) determining whether certain types of assets (e.g., vendor rebates and refundable customer advances) are within the scope of the CECL model, and (3) providing sufficient documentation to support all judgments and decisions related to the entity’s implementation of the new CECL standard.

  • Heads Up — Much to be thankful for: FASB changes some effective dates for certain new accounting standards Image

  • Heads Up — Much to be thankful for: FASB changes some effective dates for certain new accounting standards

    published 19 Nov 2019

    This Heads Up discusses the recent issuance of FASB Accounting Standards Update (ASU) No. 2019-10, "Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates." The ASU (1) provides a framework to stagger effective dates for future major accounting standards and (2) amends the effective dates for certain major new accounting standards to give implementation relief to certain types of entities. Specifically, ASU 2019-10 changes some effective dates for ASU 2017-12 on hedging, ASU 2016-02 on leasing, ASU 2016-13 on current expected credit losses, and ASU 2017-04 on simplifying the goodwill impairment test.

  • A Roadmap to Comparing IFRS Standards and U.S. GAAP: Bridging the Differences Image

  • A Roadmap to Comparing IFRS Standards and U.S. GAAP: Bridging the Differences (November 2019)

    published 18 Nov 2019

    This publication explores some of the key differences between IFRS® Standards and U.S. GAAP that are effective as of January 1, 2020, for public business entities with 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.

  • Deloitte comment letter on the IASB's proposed amendments to IAS 12 Image

  • Deloitte comment letter on the IASB's proposed amendments to IAS 12

    published 14 Nov 2019

    We have responded to the IASB exposure draft, "Deferred Tax related to Assets and Liabilities arising from a Single Transaction," which was published by the IASB in July 2019 to clarify how companies account for deferred tax on leases and decommissioning obligations.

  • Heads Up — FASB clarifies the accounting for share-based payments issued as sales incentives to customers Image

  • Heads Up — FASB clarifies the accounting for share-based payments issued as sales incentives to customers

    published 13 Nov 2019

    This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2019-08, "Codification Improvements — Share-Based Consideration Payable to a Customer," which clarifies the accounting for share-based payments issued as consideration payable to a customer in accordance with ASC 606. Under the ASU, entities apply the guidance in ASC 718 to measure and classify share-based payments issued to a customer that are not in exchange for a distinct good or service (i.e., share-based sales incentives).

  • ifrs-vs-nl-gaap-12 Image

  • IFRSs and NL GAAP — Highlighting the key differences

    published 13 Nov 2019

    The twelfth edition of 'IFRSs and NL GAAP — Highlighting the key differences' provides a summary of key differences between the requirements of IFRSs compared to NL GAAP. This publication does not attempt to capture all of the differences between IFRSs and NL GAAP that may exist or that may be material to a particular company’s financial report.

  • A Roadmap to SEC Comment Letter Considerations, Including Industry Insights (2019) Image

  • A Roadmap to SEC Comment Letter Considerations, Including Industry Insights (2019)

    published 12 Nov 2019

    This publication contains contains extracts of frequently issued SEC staff comments, analysis of those extracts, and links to resources that are relevant to SEC filers. Other features include (1) an update on the SEC’s priorities; (2) a summary of comment letter trends related to the top 10 topics of frequent comment in the 12-month period ended July 31, 2019; and (3) topics of focus related to disclosures associated with financial statement accounting, SEC reporting, initial public offerings, foreign private issuers, and industry-specific matters.

  • IFRS on Point — October 2019 Image

  • IFRS on Point — October 2019

    published 11 Nov 2019

    'IFRS on Point' highlights critical financial reporting developments. It provides a great way to catch up on the main IFRS-related news stories of the previous month.

  • EITF Snapshot — November 2019 Image

  • EITF Snapshot — November 2019

    published 08 Nov 2019

    This publication summarizes the topics discussed and conclusions reached at the November 7, 2019, meeting of the Emerging Issues Task Force.

  • More publications
    • Publication RSS Feed  Link
     

    • IASB Meeting — 28 August 2019

      Start: 28 Aug 2019 - End: 28 Aug 2019

      The International Accounting Standards Board (IASB) met at its offices in London on 28 August 2019 to discuss feedback received on ED/2019/1 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)'.

    • IASB Meeting — 22–25 July 2019

      Start: 22 Jul 2019 - End: 25 Jul 2019

      On 23 June the IASB and the US FASB held a joint education meeting. The IASB met on 22 July and 24–25 July.

  • More meetings
    •  

    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.