IFRS

Accounting / Call for insurers to act on insurance standard

The Financial Stability Board (FSB) has put its weight behind the new insurance contracts standard, IFRS 17, and is calling for insurers to begin implementing the standard as soon as possible

Accounting / IASB challenged to make reporting more ‘relevant and enticing’

The International Accounting Standards Board (IASB) should be looking at making financial statements shorter, more relevant and more enticing to read, and with greater use of technology, according to feedback from the Financial Reporting Council (FRC) and the European Financial Reporting Advisory Group (EFRAG)

Accounting / FRC issues amendments to FRS 101 reduced disclosure framework

The Financial Reporting Council (FRC) has issued its final amendments to FRS 101 Reduced Disclosure Framework as part of its annual review cycle

Accounting / International reporting: IFRS 17 Insurance Contracts due in 2021

Jeroen van Doersselaere examines what organisations need to do over the next three-and-a-half years order to comply with IFRS 17 Insurance Contracts 

Accounting / EFRAG seeks views on IFRS 13 Fair Value

The European Financial Reporting Advisory Group (EFRAG) is asking for feedback from preparers, users, academics and others on their experiences with IFRS 13 Fair Value Measurement, to feed into the IASB’s post implementation review of the standard

Accounting / FRC defers FRS 102 update to reflect IFRS changes

The Financial Reporting Council (FRC) has said it needs to undertake more evidence-gathering before updating FRS 102 to reflect recent changes in IFRS, to give organisations more time to get used to IFRS

Accounting / Accounting updates: July 2017

In this month’s roundup of developments in accounting and financial reporting, 10-year ban for Mehigan ACA, PSC register and Scottish partnerships, FRC scales back PwC probe over Tesco accounting, IASB consults on IFRS 13 fair value measurement change

Accounting / IFRS chief calls for more transparency on cashflow and income reporting

The head of the international IFRS standard setter is calling for the development of tougher guidance on performance reporting to give investors and key stakeholders more transparency and insight over company cashflow and income

Accounting / IASB reviews financial guarantees under IFRS for SMEs standard

The International Accounting Standards Board (IASB) has issued draft guidance for consultation for the IFRS for SMEs standard about the treatment of financial guarantees issued by a parent company in their financial statements

Accounting / IAASA provides tips for Irish financial reporting

The Irish Auditing and Accounting Supervisory Authority (IAASA) has released a document for listed companies outlining tips on key issues, such as Brexit and incoming accounting standards, to include in financial reports, as the 30 June deadline for half-yearly reports approaches

Accounting / IASB to amend IAS 16 to reduce PPE reporting discrepancies

The International Accounting Standards Board (IASB) has proposed narrow scope amendments to IAS 16 Property, Plant and Equipment to reduce the diversity in application of the standard

Accounting / IFRS 15: revenue recognition and performance obligations - part 1

The new revenue recognition standard, IFRS 15 Revenue from Contracts with Customers, is proving to be expensive and disruptive for affected reporters. Companies need to take swift action to ensure they have comparative reporting on performance obligations in place for the effective date on 1 January 2018, reports Sarah Perrin ACA in the first of a series on IFRS 15

Accounting / IASB issues clarification on IAS 12 Income Taxes

The International Accounting Standards Board (IASB) has issued a new interpretation, IFRIC 23 Uncertainty over Income Tax Treatments, to specify how to reflect uncertainty in accounting for income taxes

Accounting / Accounting updates: June 2017

In this month’s roundup of developments in accounting and financial reporting, Mitie faces £50m accounting writedown, Companies House cuts, director loan changes adopted for small businesses, IFRS 17 Insurance contracts released 

Accounting / IASB seeks feedback on IFRS 13 fair value measurement

The International Accounting Standards Board (IASB) is seeking stakeholders’ views about their experience with IFRS 13, the accounting standard that explains how to measure the ‘fair value’ of assets and liabilities, to address problems identified with disclosure requirements
Subscribe