Beyond the GAAP Newsletter
Each month you will find our Beyond the GAAP newsletter on International Financial Reporting Standards (IFRS).
Beyond the GAAP no.121 - April 2018
Again this month IFRS 9 and IFRS 15 take centre stage in our highlights as they are the focus of attention for market regulators and the Monitoring Board of the IFRS Foundation.
Beyond the GAAP no.122 - May 2018
Target: the half-year accounts! With the disclosures required by the two standards that came into force on 1 January 2018 and the full list of applicable texts, three ‘A Closer look’ studies will support you in their preparation.
Beyond the GAAP no.123 - June 2018
After focusing on half-yearly reporting and on IFRS 15 and IFRS 9 in our last edition, this month’s special study presents a Benchmark on disclosures by entities at 31 December 2017 on the future impact of IFRS 16. The level of information provided varies greatly, and, unsurprisingly, is on average rather limited. It is as well to remember that entities should expand these disclosures at 30 June 2018.
Beyond the GAAP no. 124 - October 2018
This issue of Beyond the GAAP brings a piece of good news for our readers, as we all return to work following a well-deserved break: our financial instruments experts have saved you some effort by reading and summarising the IASB’s particularly dense Discussion Paper on the classification of financial instruments as liabilities or equity, published at the beginning of the summer. See our ‘A Closer Look’ feature for our summary of the DP.
Beyond the GAAP no.125 - September 2018
As the IASB is asked to re-examine some aspects of IFRS 17, we enter a period of uncertainty as regards both EFRAG’s work on the endorsement advice and the likely effective date of the standard. This also has implications for the deferral of IFRS 9, an alternative which many European bancassurers and insurance companies opted for. Meanwhile, the IFRS IC has published four agenda discussions; in this issue, we discuss the two relating to capitalisation of borrowing costs.
Beyond the GAAP no.126 - October 2018
During October, the European legislators have endorsed interpretation IFRIC 23 – Uncertainty over Income Tax Treatments. Meanwhile, the IASB has published new short, but focused, documents.
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.
Beyond the GAAP no. 127 - November 2018
Ahead of the preparation of financial statements at 31 December 2018, Beyond the GAAP summarises the standards applicable to the current year and revisits the information published by European entities on the introduction of IFRS 16 at 30 June 2018 - information which must be significantly expanded in December 2018.