Beyond the GAAP - 2012 issues
May 2012
There are not very many new standards for mandatory application to the 2012 reporting period, which is welcome news at the time when half-yearly accounts are under preparation. Only the IFRS 7 amendment on disclosures on financial assets may prove complex to apply.
April 2012
Financial instruments were in the spotlight in April! The two Boards continued their progress on the proposed “expected loss” impairment model for financial assets (Phase II of IFRS 9/Impairment), and in particular clarified how the expected loss estimate should be determined.
March 2012
At the end of March, the IASB updated its work plan, once again postponing the publication of documents relating to the joint projects on Financial Instruments and Leases.
February 2012
At the time of writing this editorial, the IASB Update – the official publication reporting on Board meetings – had not yet been published, as the IASB’s last meeting spanned the end of February and the beginning of March. As a result, it is difficult for us to report on the Board’s provisional decisions, given that the subjects discussed were particularly complex and open to interpretation.
January 2012
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Emilio WANG Jianmin Managing partner, Guangzhou
