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.
Beyond the GAAP no.136 - September 2019
September saw the publication of two long-awaited decisions by the IFRS Interpretations Committee (IFRS IC). One related to determination of the lessee’s incremental borrowing rate when applying IFRS 16, and the other to the classification and presentation of liabilities or assets related to uncertain tax positions. This therefore seemed the ideal time to present our study of information on the impacts of initial application of IFRIC 23 presented by a sample of French and European issuers (CAC 40 and Euro Stoxx 50) in their IFRS interim financial statements to 30 June 2019.
Beyond the GAAP no.137 - October 2019
As the end of the year approaches, we’ve reached the time when European enforcers publish their recommendations for year-end financial reporting. Unsurprisingly, the key recommendations from ESMA and the AMF (the French market regulator) focus on IFRS 16 – Leases, IFRS 15 – Revenue from Contracts with Customers, and IFRS 9 – Financial Instruments. In this issue, we review the topics highlighted by the enforcers in their published recommendations.
Beyond the GAAP no.138 - November 2019
As 2019 draws to a close, we present our usual overview of applicable standards and interpretations, with IFRS 16 – Leases obviously being the key new standard for this year.
Beyond the GAAP no.139 - December 2019
As the 2019 financial statements are finalised, the first-time application of IFRS 16 will have kept stakeholders on their toes right up to the last minute. This is because the IFRS Interpretations Committee did not officially clarify until 16 December how the term of certain leases should be determined.
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.
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.
Beyond the GAAP No.141 - February 2020
Following the announcement of the first results for 2019 in February, companies that have not yet closed their accounts need to consider the potential implications of the current coronavirus epidemic for the disclosures required in the notes on events after the reporting period in accordance with IAS 10, as some market regulators have just recalled.
Beyond the GAAP No.142 - March 2020
This Mazars Newsletter aims to inform some topics that are being discussed among the different players in the audit and accounting profession regarding:
(i) international financial reporting standards (hereinafter referred to as IFRS), and given the current situation;
(ii) COVID-19 and all its challenges.
(i) international financial reporting standards (hereinafter referred to as IFRS), and given the current situation;
(ii) COVID-19 and all its challenges.
Beyond the GAAP no.119 - February 2018
With less than a year to go before the effective date of IFRS 16 on Leases, the report of the ANC’s (The French accounting standards setter) decisions on the duration of 3/6/9 leases, published in February, is certainly the most anticipated announcement for French entities. This is because it should enable most of them to resolve this thorny question in their plans for implementation. This decision will of course also be useful to entities with subsidiaries in France.
Beyond the GAAP no.120 - March 2018
The year began quietly with few major developments relating to standards, but March has seen a whole series of projects coming to fruition. Some of these are highly concrete, with three very detailed decisions published by the IFRS IC on the application of IFRS 15, which we explore in our ‘A Closer Look’ feature. Others are much more conceptual, such as the publication of the IFRS Conceptual Framework, and still others are forward-looking and are prompted by the European Union’s action plans on sustainable development and the fitness of public reporting by companies.
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.