The International Accounting Standards Board (IASB) invites investors to join two outreach webinars in May to discuss proposals for improvements to financial statements. The focus will be on how to improve information communicated in income statements. The IASB published the General Presentation and Disclosures exposure draft in December, which proposed replacing IAS 1 Presentation of […]
The International Accounting Standards Board (IASB) recently published a discussion paper setting out their preliminary views on the goodwill impairment debate. The IASB (and FASB) have been looking at alternatives to the existing accounting rules that assess goodwill through annual evaluations, and are considering moving to an approach where a set amount of goodwill is written down […]
Recent IFRS speeches indicate a new willingness to better integrate IFRS reporting with additional non-financial reporting metrics that have developed out of changing investor needs. Technology means we have seen a dramatic shift in the importance of intangible assets, reducing the relevance of the traditional balance sheet. Demand from investors for sustainability reporting is on […]
At the World Standard-setters Conference in London last week Chair of the International Accounting Standards Board (IASB) Hans Hoogervorst gave some insights into the areas the IASB will be looking to make progress on in 2020. So what’s on the agenda? A recent focus for the IASB has been improving how effectively financial statements communicate. […]
Want to know more about the key issues surrounding goodwill impairment currently being weighed up by standard setters? Calcbench and Valuation Research Corporation (VRC) have recently collaborated on a video taking a deep dive into this important topic. Goodwill is an accounting value recorded when a company acquires another company, measuring the value of intangible […]
With the 2021 switch away from widely discredited interest rate benchmarks such as LIBOR, the mechanics of that transition was again on the agenda for the IASB this summer. Earlier this year IASB proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the IBOR reforms. […]
Would you like to help shape the future of the IFRS Taxonomy? Join the International Accounting Standards Board’s IFRS Taxonomy Consultative group to contribute and advise on the Taxonomy’s development. The board is keen to appoint new members from a variety of business and geographical backgrounds to advise the IFRS foundation on the content and […]
An ongoing suggestion amongst policy makers, the accounting profession and ESG advocates is that the International Accounting Standards Board should take over standards setting in the field of environmental reporting and climate disclosure in particular. The Chair of the IASB used a speech last week to re-affirm that the IFRS standards setters will do no […]
The next Global Preparers Forum (GPF) will take place on 22 March. The GPF is an independent body that provides insight and input to the International Accounting Standards Board (IASB) from preparers of financial statements. The GPF provides input into concepts and proposals that the IASB is developing and offers advice on the practical implications […]
The International Accounting Standards Board (IASB) recently issued an amendment to the IAS Statement of Cashflows. This week Nick Anderson, IASB Board member, discusses the objectives of the IAS 7 disclosure requirement and gives some advice for companies looking to make their disclosures as useful as possible. The new amendment requires companies to include information […]
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