Beyond the GAAP No.140.- January 2020

The year 2019 drew to a close with the publication of an exposure draft proposing significant changes to the presentation of IFRS financial statements, particularly the statement of comprehensive income. Consultations will continue in the new year, with many projects listed in the IASB’s work plan. For example, in March, the IASB is expected to publish a Discussion Paper on goodwill and impairment. While the IASB is unlikely to propose the reintroduction of amortisation of goodwill, it is expected to make proposals aimed at improving disclosures in the notes and reducing the cost of impairment testing.

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