Beyond the GAAP no.186 - March 2024
In last month’s issue, we looked at the three main topics covered by the draft amendments to IAS 32, IFRS 7 and IAS 1, as set out in the Financial Instruments with Characteristics of Equity (FICE) exposure draft. In this issue, we present the Board’s proposals on the other seven topics, including contingent settlement provisions, shareholder decisions and reclassification of financial instruments between financial liabilities and equity instruments. These two feature articles will provide our readers with a complete overview of the content of the exposure draft, for which the comment period ended on 29 March 2024.
The IASB’s other current priorities include the draft amendments to IFRS 9 on renewable electricity purchase agreements (known as “PPAs” or “Power Purchase Agreements” and “VPPAs” or “Virtual PPAs”). At its March 2024 meeting, the IASB clarified the content of its future amendments for the first time. In this issue, we present the likely contents of the forthcoming exposure draft, which is scheduled for publication in May 2024, with a comment period of 90 days.
Our support
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
| Download the issue in the PDF extension in English as below. |
Contacts
Huyen Nguyen Managing Partner, Head of Outsourcing
Beyond the GAAP No. 185 - Feb 2024
Last November, we reported the publication of an IASB exposure draft of proposed amendments to IAS 32, IFRS 7 and IFRS 1 on the classification of financial instruments with characteristics of equity (“FICE”). In this issue, we present the IASB's proposals on three of the topics covered by these amendments: how to account for rights and obligations arising from legal or regulatory requirements, instruments...
Beyond the GAAP No. 184 - January 2024
This month, sustainability reporting has again dominated the news, with the provisional agreement from the European Parliament to delay Commission adoption of the next sets of ESRS (namely sector-specific ESRS and ESRS for non-EU groups) by two years, i.e. by 30 June 2026 instead of 30 June 2024 as initially indicated in the Corporate Sustainability Reporting Directive. Sector-specific standards in...
Beyond the GAAP No. 183 - December 2023
Happy New Year from everyone at Beyond the GAAP! The IASB work plan alone suggests that this new year will be a busy one on the accounting front. But the biggest new development in 2024 will be initial application of the European Sustainability Reporting Standards (ESRS), for the first companies falling within the scope of the Corporate Sustainability Reporting Directive (CSRD) – i.e. large undertakings...