Beyond the GAAP no.128 - December 2018
Following on from last issue’s feature, which provided a general overview of standards applicable at 31 December 2018, Beyond the GAAP details, in special studies, two issues that may impact your financial statements either immediately with the first study on how to account for hyperinflation in Argentina, or more prospectively with the IASB’s latest proposals on the costs to be taken into account to determine whether a contract is onerous.
Also, having reported that its standard on fair value, IFRS 13, is working well, the IASB is continuing its discussions on the improvements it could bring to its standard on insurance contracts.
