Beyond the GAAP - December 2020 Issue
As we move into the new year, the Beyond the GAAP editorial team would like to wish you all the best for 2021: here’s hoping that the health crisis will soon be over...
In this issue, we present the issues identified by the IASB in its Post-implementation Review of the “new” consolidation Standards, which have now been in effect for several years and which have given rise to various questions regarding practical application.
We also provide a summary of the feedback received by the Board on its General Presentation and Disclosures exposure draft. The forthcoming redeliberations will doubtless require a lot of time and effort during 2021... and maybe beyond.
In this issue, we present the issues identified by the IASB in its Post-implementation Review of the “new” consolidation Standards, which have now been in effect for several years and which have given rise to various questions regarding practical application.
We also provide a summary of the feedback received by the Board on its General Presentation and Disclosures exposure draft. The forthcoming redeliberations will doubtless require a lot of time and effort during 2021... and maybe beyond.
IFRS highlights
IFRS IC publishes agenda decision on Supply Chain Financing Arrangements – Reverse Factoring
On 14 December, the IFRS Interpretations Committee (IFRS IC) published an agenda decision on Supply Chain Financing Arrangements – Reverse Factoring, which is available here.
This final decision contains some slight modifications/clarifications to the tentative agenda decision published last June, but the key points remain the same as those presented in issue 146 of Beyond the GAAP (July-August 2020).
