Technical issues trending now - April 2021
Technical issues trending now - April 2021
In this edition
Developments within International Financial Reporting Standards (IFRS)
- IASB issues amendments to extend the relief period for lessees accounting for Covid-19-related rent concessions
- IASB proposes amendments when accounting for foreign currency transactions where there is no observable exchange rate
- Proposals set out to bring regulatory assets and liabilities on balance sheet to align timing for revenue recognition – comment period extended to 30 July 2021
- Primary Financial Statements project – Redeliberations begin on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance
Developments within UK Accounting Standards
- FRC proposes to extend application period for accounting for Covid-19-related rent concessions
Other Regulatory Developments
- FRC implements new approach to make corporate reporting reviews publicly available
Narrative and Front-end Reporting Developments
- Sustainability reporting – IFRS Foundation announces working group to accelerate convergence in global sustainability reporting standards
Mind the GAAP Blog: Latest articles
- Primary Financial Statements project – Redeliberations begin by the IASB on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance
- IFRS 16 Leases - Amendment to extend the relief period for lessees accounting for Covid-19-related rent concessions