Beyond the GAAP - the monthly newsletter on financial and sustainability reporting
Each month, the newsletter Beyond the GAAP aims at keeping readers informed of financial and sustainability reporting developments.
This newsletter is available in English only.
This newsletter is available in English only.
Beyond the GAAP no. 118 - January 2018
Since 1 January 2018, IFRS 9 - Financial instruments and IFRS 15 - Revenue from Contracts with Customers have been effective, as the IASB headline announced on its website on 8 January. In parallel, work to assess the impact of IFRS 9 on long-term investment is continuing at the European level, with the publication of the outcomes of a first factual analysis by EFRAG.
Beyond the GAAP no. 117 - December 2017
2017 ended fairly quietly, since the European Commission had already endorsed several texts in November and the IASB’s December meeting decided to postpone publication of most of its texts and draft texts, with the exception of the annual improvements to IFRSs, which we discuss in this month’s ‘A closer look’ study.
Beyond the GAAP no. 116 - November 2017
Over the past decade, the IASB has been working on the process of converging IFRS with US GAAP, and this month saw EU endorsement of the remaining resulting standards.
Beyond the GAAP no. 115 – October 2017
After a quiet summer on the accounting front, September started brightly with two exposure drafts and a Practice Statement from the IASB.
Beyond the GAAP no. 114 – September 2017
After a quiet summer on the accounting front, September started brightly with two exposure drafts and a Practice Statement from the IASB.
Beyond the GAAP no. 113 – July - August 2017
July was a busier period for Europe than for the IASB. The European Commission sent two draft texts (deferred application of IFRS 9 for insurers and financial conglomerates, and IFRS 16 on Leases) to the European Parliament and Council for endorsement before the end of the year, while ESMA published three documents on financial information and its enforcement activities.
Beyond the GAAP no. 112 – June 2017
June 2017 saw the publication of IFRIC 23 – Uncertainty over Income Tax Treatments. According to this Interpretation, entities must now assume that any uncertainty over income tax treatments will be examined by the taxation authorities, and must consider the probable outcome of such examination when determining the amount of income tax to be recognised in the financial statements.
Beyond the GAAP no. 111 - May 2017
IFRS 17 – Insurance Contracts has been in the pipeline for more than ten years, and finally made its appearance during the night of 16 to 17 May 2017.
Beyond the GAAP no.110 - April 2017
For the second time in its history, the IASB has launched a rapid-turnaround consultation with a comment period of just 30 days – the minimum permitted by its Due Process Handbook.
Beyond the GAAP no.109 - March 2017
While they do not form an official part of the IASB’s Disclosure Initiative, the amendments proposed to IFRS 8 on operating segments are certainly in the same spirit. With this consultation, and the consultation around the discussion paper on Principles of Disclosure, the IASB has started the ball rolling for the 2017 round of deliberations on the theme of Better Communication.