Beyond the GAAP - 2012 issues

May 2012

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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.

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April 2012

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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.

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March 2012

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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.

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February 2012

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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.

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January 2012

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It is already clear that 2012 will be a crucial year for the IASB.

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